Moncler Beats Q3 Expectations, Revenue Rises By 55 Pct

Moncler Beats Q3 Expectations, Revenue Rises By 55 Pct

Moncler Beats Q3 Expectations, Revenue Rises By 55 Pct
Moncler Beats Q3 Expectations, Revenue Rises By 55 Pct
Retail Bum

Retail Bum

Retail Bum

Retail Bum

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Italian luxury brand Moncler beat market expectations with its revenue growing by 55 percent in the third quarter, primarily driven by growth in sales in North America, China and South Korea.

The company saw its sales rise by 27 percent at constant exchange rates compared to 2019, reaching $531.62 million. The increase in sales marked a 10 percent improvement over the brand’s Q3 performance in 2019.

In comparison, the down parka maker saw its Q2 revenue more than double compared to 2020, but that was only a 5 percent improvement on the company’s performance in 2019.

The company’s streetwear-focussed Stone Island brand, which was consolidated into the company’s balance sheets in April, saw sales totaling $116.8 million, a 33 percent improvement when compared to the same period in 2019, Reuters reported.

The company’s results came ahead of analysts’ estimates, which had projected sales of $628.4 million, with Moncler contributing  $521 million and Stone Island contributing $107.4 million.

Moncler acquired Stone Island in a $1.4 billion deal in December 2020. The acquisition marked the first-ever purchase made by the company in its 68 years of existence and it was part of Moncler’s effort to consolidate competition in the luxury retail landscape and turn around its business into an Italian luxury hub.

“It reminds me a lot of what Moncler was ten years ago; I believe it has great potential to grow,” Moncler Chief Executive Remo Ruffini said at the time of the acquisition.

Ruffini has plans to double the sales from the company’s Stone Island unit over the next five years.

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