Retail in Asia

In Trends

Moncler Asia sales up 14 percent in 2022, Stone Island doubles

Luxury apparel maker Moncler Group announced on Tuesday its full-year 2022 revenues reached EUR 2.6 billion (USD 2.78 billion) up 25 percent, compared to 2021.

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The owner of Italy’s Stone Island and Moncler brands said fourth-quarter revenues totalled EUR 1 billion, up 19 percent, compared to the fourth quarter last year.

Moncler revenues in Asia (which includes APAC, Japan and Korea) were EUR 1.03 billion, up 14 percent, compared to 2021. In the fourth quarter, Moncler Asia grew 12 percent on last year, increasing 56 percent on 2019, driven by the acceleration of Korea and a solid performance in Japan.

The brand’s performance in the APAC region was hit during the months of October and November by the severe Covid restrictions in Mainland China, which were eased at the beginning of December, prompting a recovery in stores traffic, said the company.

Stone Island Asia revenues reached EUR 80.2 million, surging 101 percent, compared with 2021 pro-forma, driven by the conversion into retail of Korea and Japan. The APAC region did suffer in the fourth quarter, due to the Covid-19 restrictions in Mainland China, said the Milan-based company.

“In 2022, Moncler Group exceeded EUR 2.6 billion in revenues, with over EUR 600 million in net profit. Moncler and Stone Island achieved – respectively – a record of EUR 2.2 billion and EUR 400 million in revenues, with solid growth achieved across all geographies in both channels, boosted by the strong momentum of both brands, said Remo Ruffini, chairman and CEO of Moncler S.p.A.

“It was also a highly symbolic year: the one of the 70th anniversary of Moncler and the 40th anniversary of Stone Island, during which we celebrated the journey of these two extraordinary brands. Above all we started planning for tomorrow, because we know that past success must always inspire new ambitions.”

During the 2022 year, the company opened eight Moncler monobrand stores in Asia, and 40 Stone Island stores in the region, all in the last quarter.

“Looking at 2023, the macroeconomic environment remains complex and characterized by continued uncertainty, but also by many opportunities. Despite the unpredictability of the scenario in which we operate, we face the year with confidence and energy, conscious of our flexible and reactive organization and of our clear strategic vision whose priority is to continue strengthening our brands, always involving and inspiring new communities, ‘Beyond Fashion, Beyond Luxury’.”