Italy’s Moncler recorded double-digit percentage revenue growth in the opening quarter of 2018, boosted by sales growth across all markets, in particular, in China and Hong Kong.
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For the three months ended March 31, Moncler recorded revenues of 332 million euros, an increase of 20% at current exchange rates, compared to revenues of 276.2 million euros in the same period of 2017, and an increase of 28% at constant exchange rates.
All locations performed positively, said the luxury down jacket maker.
In Asia and Rest of the World, Moncler revenues increased 39% at constant exchange rates, with remarkable results in all nations. China’s mainland and Hong Kong largely outperformed the growth of the region, with “good Chinese flows and the outstanding performance of the relocated Canton Road flagship.”
Moncler also highlighted the sales assistance of a “cold long winter, the timing of the Chinese New Year, which was better this year and more favourable for Chinese traffic.”
In EMEA, revenues grew 18%, with solid growth in both distribution channels and in all markets. France, the United Kingdom and Germany “significantly contributed” to the first-quarter results.
In the Americas, revenues grew 34%, “fostered by important improvements” in the United States and Canada and in both distribution channels, particularly in retail.
Finally, domestic revenues in Italy rose 10% on retail gains, said Moncler.
Revenues from the retail channel reached 256.2 million euros, representing a 35% increase. The staggering growth was due to strong organic growth and the continued development of the network of mono-brand retail stores, while the wholesale segment recorded revenues of 75.8 million euros, an increase of 9%.
“The first quarter of 2018 marked another fundamental step forward in our Group’s development. This has been due not only to group’s results, which I believe were exceptional, with revenues increasing by 28% at constant exchange rates and double-digit growth in all geographical areas,” said Remo Ruffini, Moncler’s Chairman and Chief Executive Officer.
“But above all, it has been due to the Moncler Genius project presentation occurred on February 20 – a creative hub, which has reimagined the Moncler’s soul by going beyond the season’s concept,” Ruffini said.
“The idea for this was born from a desire to seek innovative forms of expression, to constantly dialogue with the clients, fuelled by a new digital approach. Each collection will be singularly dropped, starting from June 14 with Moncler Fragment Hiroshi Fujiwara, followed by all the others on a monthly basis,” he added.
Moncler grew to 205 retail directly operated stores across the globe, four more on last year. Moncler opened a flagship store in Dubai and two new stores in Korea during the quarter.
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It also now boasts 61 wholesale shop-in-shops, it said.
In 2018, 11 new locations have been secured for directly operated stores and about 15 relocations and expansions are planned, said the company, in a post-earnings conference call, including a second store in Singapore, at Marina Bay Sands.