Despite the confinements and restrictions in China, Moncler reported very good results, which once again exceeded expectations.
Sales at Italian luxury group Moncler rose 46 percent at constant exchange rates in the first half of the year, again beating analysts’ estimates. The brand, which acquired smaller rival Stone Island in 2020, said Wednesday it was confident about the second half of the year, its signature season with its famous winter down jackets.
Total sales reached 918.4 million euros in the six months to June, compared with the analyst consensus provided by the company of 894 million euros. The group reported a 26 percent increase in sales in the second quarter, driven by strong growth in Europe and the United States, South Korea and Japan.
Operating profit for the first half of the year was 180.2 million euros, with a margin of 19.6% on sales, above expectations of 152 million euros. The brand was still hit by store closures in China due to health restrictions, but notes a strong improvement since the reopening of stores in June.
“Even though the first half of the year was marked by strong macroeconomic and geopolitical instability, we exceeded our expectations,” commented Remo Ruffini, president and CEO of Moncler, in a statement. “Although the overall environment remains uncertain and volatile, we are approaching our most important part of the year with confidence.”
Read also > Moncler wants to develop both its shops and its ecommerce
Featured photo : © Moncler
