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Published
May 4, 2017
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Italy's Moncler Q1 revenue up 16 pct, lifted by sales in Europe

By
Reuters
Published
May 4, 2017

Italian luxury outerwear maker Moncler reported on Thursday a 16 percent rise in first quarter revenue, lifted by sales in Europe, particularly in Britain, France and Germany.


Moncler Gamme Rouge - Fall-Winter2017 - Womenswear - Paris - © PixelFormula



Moncler said sales came in at 276.2 million euros ($302 million) in the period, just above a Thomson Reuters estimate of 271 million euros. At constant exchange rates sales rose 15 percent compared to the same period in 2016.

Sales in European countries excluding Italy, which represent a third of Moncler's revenue, were up 22 percent at current exchange rates to 83 million euros in the first quarter.

Revenue from the group's 191 directly-owned stores were up 20 percent in the first three months of the year, with respect to the same period the year before.

Moncler Chief Corporate Officer Luciano Santel spoke with analysts in a conference call after the results were published, explaining that the strong results were partly due to good online sales, which were growing faster than sales in traditional stores. The brand has plans to relocate or enlarge some stores in the third quarter.

While known for its down coats and skiwear, Moncler seems to be gaining ground in other categories, with the growth rate in first three months of so-called "other category" products higher than the growth of outerwear. Santel said that the group's spring summer collection is being appreciated by customers.

During the call, Santel also spoke about how tourism to Europe is fueling the brand's sales, from China but also Korea and Taiwan. He said Moncler has plans to open 15 "shop-in-shops" this year and is "closely, selectively" looking at travel retail shops in airports.

 ($1 = 0.9144 euros)
 

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