Sales at Italian luxury group Moncler rose 12 percent at constant exchange rates in the third quarter, driven by a strong growth in Europe and improvement in China as COVID-19 curbs eased.
The group, known for its warm puffer jackets said on Wednesday it faced the northern hemisphere winter season “with confidence” after revenue exceeded 1.5 billion euros ($1.51 billion) in the nine months to September.
Demand for luxury goods has so far proved resilient against inflationary pressures and a potential recession, with US shoppers taking advantage of the dollar’s strength in Europe and the key Chinese market bouncing back from COVID-19 restrictions.
Moncler’s revenue in the third quarter reached 638.3 million euros, slightly topping a company-provided analysts’ consensus forecast of 637 million euros.
The eponymous brand generated 528.2 million euros in sales, up 13 percent and above a consensus of 521 million euros, while revenue at the smaller label Stone Island, acquired in 2020, rose 8 percent to 110 million euros versus analyst estimates of 116 million euros.
Learn more:
Remo Ruffini on Moncler’s Reset
The executive talks about shifting global markets, the future of the company’s Genius project, and key opportunities for growth.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Fashion News Click Here
