Moncler, the renowned Italian fashion group known for its iconic down jackets and sportswear, has unveiled an exciting new strategic plan aimed at propelling the brand into a new era. The plan includes a more targeted and multicultural approach, with a particular emphasis on footwear. During an investor day presentation, Moncler outlined its ambitious goals for the next three years, which include the opening of over 150 new monobrand stores and a significant boost in online sales.
One key aspect of Moncler’s plan is the Moncler Genius project, which was introduced in 2018. This groundbreaking project involves collaborations with various designers and has become the brand’s “creativity hub.” Currently, it contributes between 5% and 10% of Moncler’s total revenue, and the company plans to expand it to encompass art, music, cinema, sports, and more. The Moncler Genius project aims to involve not only fashion designers but also players and brands from different sectors.
Moncler’s broader segmentation strategy focuses on three primary targets. The Moncler Genius range seeks to attract new luxury consumers, particularly the younger Gen Z demographic aged 20-30 and below, and is projected to generate at least 30% of total sales. The Moncler Collection targets Gen X and Millennial consumers, with expectations that it will eventually account for 70% of revenue. Completing the segmentation strategy is Moncler Grenoble, a high-tech performance line tailored for active millennials.
To further enhance its position in the market, Moncler has chosen to place special emphasis on footwear, particularly trainers. The company plans to acquire stakes in Italian producers and specialist SMEs to gain the necessary expertise in this area. Moncler’s CEO, Remo Ruffini, foresees immense potential in the footwear category and believes it will be instrumental in unlocking the American market’s untapped opportunities. The goal is for footwear to contribute 10% to the brand’s total revenue by 2025.
In terms of retail expansion, Moncler has set a target of opening 100 new stores by 2024. The brand aims to create a more immersive and experiential shopping experience by increasing the retail area in its stores. Additionally, Moncler plans to bolster its online sales, with hopes of reaching 25% of total revenue within three years and generating 100 million site visits on moncler.com.
Moncler has identified China and the USA as its main markets, expecting them to account for 50% of the brand’s projected revenue growth by 2024. However, this is contingent upon the improvement of the Covid-19 situation in China, as lockdowns have had a significant impact on the brand’s retail operations.
Alongside the unveiling of its new strategic plan, Moncler has also announced two exciting partnerships. The brand will collaborate with Sir Jony Ive’s creative agency, aiming to explore innovative solutions. Additionally, Moncler has formed a partnership with the LeBron James Foundation to develop opportunities for the African-American community under the guidance of the basketball legend.
Moncler is also dedicated to the success of its subsidiary brand, Stone Island, which it acquired in 2020. The company plans to streamline Stone Island’s wholesale distribution and expedite the growth of its direct retail network. By 2024, the goal is to have 100 monobrand stores for Stone Island, with the brand generating 60% of its revenue through its own stores and 20% through online sales.
Overall, Moncler’s new strategic plan sets out ambitious goals for the brand’s future growth and expansion. With a focus on segmentation, footwear, and digital sales, Moncler is positioned to solidify its status as a global fashion powerhouse.
Useful Links:
1. Moncler Official Website
2. Moncler Genius Project
