Moncler, renowned for its luxurious puffer jackets, is strategically targeting younger consumers and the lucrative Chinese market to bounce back from the challenges posed by the COVID-19 pandemic. CEO Remo Ruffini is optimistic about a potential recovery in the second half of 2021 as the brand shifts its focus towards appealing to a new generation of shoppers.
In a bold move, Moncler acquired Italian fashion brand Stone Island, known for catering to Generation Z consumers in their twenties. This strategic decision aligns with Moncler’s vision to bridge the gap between high-end luxury and streetwear markets. With Chinese consumers projected to drive a significant portion of global luxury sales by 2025, Moncler is doubling down on engaging younger demographics and expanding its footprint in China.
Originally founded in 1952 as a niche Alpine sports clothing brand, Moncler has redefined itself as a symbol of opulence and prestige under Ruffini’s leadership. Despite an anticipated 15% decline in revenues this year, the company is positioning itself for a resurgence in 2021 by maneuvering through the pandemic-induced challenges.
Ruffini stresses the importance of adapting to evolving consumer tastes, with a particular focus on the menswear sector where growth opportunities abound. By investing in Stone Island, Moncler aims to diversify its product range and tap into the immense growth potential in the Asian market.
In response to the shifting landscape of luxury retail, Moncler is embracing innovative strategies such as leveraging social media platforms for product launches and engaging with customers online. The brand’s recent foray into TikTok marketing, featuring influencers showcasing its merchandise, has garnered significant traction, underscoring the power of digital platforms in reaching a broader audience.
Looking towards the future, Moncler is planning to bolster its presence in Asia by opening new stores in China and ramping up online sales efforts. With a strong commitment to sustainability and innovation, the brand aims to drive growth and solidify its position as a key player in the luxury fashion sector.
As Moncler charts a course for the future, the acquisition of Stone Island serves as a testament to its ambition to expand market share and carve out a prominent spot in the luxury fashion arena. By staying attuned to emerging trends and consumer preferences, the brand is well-positioned for success in an ever-evolving industry landscape.
For more information on Moncler’s latest collections and initiatives, visit their official website here. To learn more about the innovative fashion brand Stone Island, click here.
