Moncler Beats Estimates, Sales Climb 25 Percent — Retail Bum

Italian luxury group Moncler saw its sales rise by 25% at constant exchange rates, driven by strong demand for its products as well as its Stone Island brand.

The company’s consolidated revenue for the year reached $2.76 billion, higher than its previous estimate of $2.7 billion.

Moncler particularly benefited from solid demand in the EMEA region, with Italy, Germany and France driving sales. Meanwhile, the company’s performance in China suffered in October and November, but it recovered in December as the lifting of lockdowns revived foot traffic in physical stores.

“Looking at 2023, the macroeconomic environment remains complex and characterized by continued uncertainty, but also by many opportunities,” said Chairman and Chief Executive Remo Ruffini.

The company’s net profit increased to $647.2 million, up from $438.9 million in 2021. It also received a one-time benefit of $98.4 million for the Stone Island brand tax value realignment, according to Reuters.

Moncler has reportedly proposed a dividend payment of $1.2 per share, twice what the company paid last year.

High demand in the EMEA region was also something luxury eyewear maker EssilorLuxottica observed in Q4. The company’s quarterly revenue rose 9.4% to $6.5 billion, with France, Italy, Spain, the U.K., and Scandinavia, driving a 6.2% sales growth in the EMEA region to $2.2 billion.

Originally published at https://retailbum.com on March 1, 2023.