Moncler, the luxury fashion group, has seen a significant increase in revenue for the first half of 2021 compared to the same period in 2020. The group reported a +57% growth, reaching 621.8 million euros. This positive performance has brought Moncler back in line with its pre-pandemic figures from 2019, with a +1% growth compared to that year.
The Moncler brand itself achieved a turnover of 565.5 million euros in the first six months of the year, marking a +43% increase compared to H1 2020. This growth can be attributed to double-digit sales growth in the USA, China, and South Korea during the second quarter. However, Japan and Europe continue to be affected by the ongoing Covid-19 crisis.
One noteworthy factor contributing to Moncler’s success is its newly implemented digital strategy. The brand brought its e-commerce activities in-house a year ago, after previously outsourcing them to the Yoox Net-a-Porter group. Moncler has started to reap the benefits of this transition, with the first fruits of its digital strategy becoming apparent.
These results also mark an important milestone for Moncler as a group, as it is the first time they have released their financial statements since acquiring their competitor, Stone Island, last year. With the inclusion of Stone Island’s results in the financial statements, the label recorded a turnover of 56.2 million euros in the second quarter of 2021.
Looking ahead, Remo Ruffini, Chairman and CEO of Moncler S.p.A, remains optimistic. He states that the most crucial part of the year is still to come, as Moncler’s outdoor and skiwear DNA is closely tied to the seasonal demand during the winter months. Despite the ongoing uncertainty surrounding the health situation, Ruffini expresses confidence, emphasizing the company’s strong brands, clear goals, and talented teams.
Useful links:
1. Moncler Official Website
2. Stone Island Official Website
