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Moncler annual revenues rally on strong Asian market

Moncler Group announced revenues rose 17 percent to EUR 2.98 billion in 2023, on the back of surges in the luxury down jacket maker’s Asia market.

SEE ALSO: EssilorLuxottica inks new eyewear licensing agreement with Moncler

For the year ending December 31, Moncler brand revenues increased 19 percent to EUR 2.57 billion, thanks to a 30 percent increase in the brand’s Asia market.

During the fourth quarter, revenues in the region grew by 28 percent, in strong growth in the Chinese mainland, whose performance in Q4 2022 was affected by Covid restrictions. Japan, Korea and the rest of APAC continued to record a very solid performance, all growing at a double-digit pace in the fourth quarter, the company said.

At sister brand Stone Island, brand revenues grew 4 percent to EUR 411.1 million, again thanks to a burgeoning Asia market, registering EUR 89.4 million in 2023, growing 16 percent.

In the fourth quarter, the region grew by 22 percent, mainly driven by the strong performance of Japan and the Chinese mainland.

“2023 marked the 10-year anniversary of our listing on the Milan stock exchange. I am very proud today to celebrate this significant milestone with a record set of results: EUR 2.98 billion in revenues, EBIT of EUR 894 million, and over EUR 1 billion of net cash,” said Remo Ruffini, chairman and chief executive officer of Moncler S.p.A.

“As we look ahead, the journey continues. At Moncler, we are committed to strengthening the three dimensions of our brand – Collection, Genius and Grenoble – ensuring continued resonance with existing communities while reaching new ones. Meanwhile, Stone Island is embarking on an exciting new chapter, poised to unlock its full potential through a highly distinctive brand positioning and engagement strategy which we have recently launched.

“The operating environment remains complex and unpredictable. We will continue to navigate through these uncertainties remaining vigilant while leveraging on our agility and reactivity. At the same time, we will continue to invest in our organisation, in our brands and in the exceptional talent within our group, with a long-term oriented mindset and always pushing for higher peaks.”

The earnings update comes several months after EssilorLuxottica and Moncler announced the signing of an exclusive licensing agreement that includes the design, production, and global distribution of Moncler eyewear.