Luxury down jacket maker Moncler said total sales in 2019 increased by double-digits, on the back of equally strong sales gains in both Asia and the Rest of the World, especially China.
Italy’s Moncler reported full-year sales increased 13% at constant exchange rates to 1.627 billion euros, for the period ending 31st December, 2019, compared to 1.42 billion euros in 2018. The fourth-quarter also witnessed a 13% gain sales-terms, said the Milan-based company.
By channel, retail sales lifted 13% at constant exchange rates, while wholesale gained 10%. Like-for-like sales climbed 7%, down from 18% in 2018.
By region, Italy sales rose 10% at constant exchange rates, thanks to a 21% increases in the last quarter, pushed on by directly operated stores and e-commerce. The EMEA region lifted 14%, thanks to tourist inflows, with France, the UK and Germany attributing the most to revenue growth.
The Americas grew 11%, with “good results” in all markets and both channels.
Asia and the Rest of the World performed strong, up 13% in constant exchange rates. China continued to dominate sales in 2019, ahead of Korea, both accelerating in the fourth quarter. Japan also grew, despite the slowdown in the October-December quarter, thanks to the increase in VAT. Asia is the brand’s top market and accounts for over 40% of total revenues, it added.
As a result of the double-digit sales boost across the board, Moncler’s EBIT during the 12 months came to 475 million euros, an increase of 15%, while net income rose 9% to 361.5 million euros.
At 31st December, 2019, Moncler operated 209 directly operated stores, an increase of 16 units and 64 wholesale stores, an increase of 9 units compared to 31st December, 2018.
Moncler plans to open 15 new stores in 2020 and there will be 15 relocations.