Italian luxury puffer jacket brand Moncler has exceeded expectations by reporting a 21% increase in sales for the first quarter of 2021. This growth can be primarily attributed to strong sales in Asia and signs of recovery in North America. Moncler’s revenues for the January-March period reached €365.5 million ($439.22 million), slightly surpassing the average analyst estimate of €361 million. Sales in Asia witnessed a significant surge, with a remarkable 53% increase, driven by robust demand in China and Korea. The Americas also experienced substantial growth, with sales increasing by 34%. However, sales in Italy and the rest of Europe remained weak.
Moncler’s positive performance in the first quarter aligns with the recent impressive results of other luxury groups including LVMH, Kering, and Hermes. These robust figures indicate a notable recovery in the luxury sector following the severe decline in sales caused by the COVID-19 pandemic. The resilience and resurgence demonstrated by Moncler and other luxury brands suggests a renewed consumer appetite for luxury goods, pointing towards a promising future for the sector.
Useful links:
– Moncler Official Website
– Business of Fashion
