Moncler, known for its luxurious puffer jackets, defied expectations by achieving an impressive 8% increase in sales during the challenging fourth quarter of 2020. Despite the global pandemic creating obstacles, the brand managed to thrive, with a notable surge in revenues in Asia compensating for a decline in Europe. This resilience and adaptability showcased Moncler’s ability to navigate a difficult market landscape.
During the period from October to December, Moncler reported sales of 675 million euros, with a major portion attributed to sales of winter clothing. This significant increase surpassed analysts’ predictions of a 1% decline, underscoring the brand’s strong performance during this time.
The sales boost was fueled by a remarkable 26% increase in Asia and a 5% rise in the Americas. However, there was a noticeable 13% decline in Europe, excluding Italy, where revenues fell by 34%. Despite the challenges in physical retail due to the pandemic, online sales saw a substantial uptick, accounting for 15% of total revenues in 2020.
Looking forward to 2021, Moncler’s focus is on the integration of Stone Island, a high-end streetwear brand acquired in December. Anticipating continued movement restrictions and their impact on tourism and shopping habits, the company is strategizing to adapt to the evolving market conditions.
While full-year revenues did experience an 11% decline to 1.44 billion euros and net profit dropped to 300 million euros, Moncler’s performance exceeded consensus estimates. The brand’s resilience and robust performance bettered projections, with sales reaching 1.43 billion euros and net profit amounting to 200 million euros.
Moncler’s decision to reinstate a dividend of 0.45 euros per share, following its suspension last year due to the pandemic, demonstrates the company’s commitment to shareholders and confidence in its long-term growth prospects.
For more information on Moncler’s latest business developments, visit their official website here. Additionally, for insights on the luxury fashion industry, check out this informative article here.
