MILAN — Solid online sales and performance in China helped drive Moncler SpA’s revenues 54 percent higher in the first nine months of 2021, to 1.18 billion euros compared with 765.1 million euros in the same period last year.
The 1.18 billion euro figure is 20 percent higher compared to the same period in 2019, signaling an emergence from the effects of COVID-19, as strong local revenue momentum in key markets offset sales losses once generated from tourism.
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As the company presses on with its unique strategy to redefine luxury by forging a consumer-centric organization. Direct-to-consumer channels in China, South Korea, the U.S. and the Europe, Middle East and Africa region improved — third-quarter 2021 revenues rose 55 percent at constant exchange to 555.5 million euros and were up 33 percent on the same period of 2019.
“Today we are presenting Moncler Group’s nine months results that are exceeding our own expectations. This has been a quarter full of projects and we have achieved many of the goals we set for ourselves,” said chairman and chief executive officer Remo Ruffini.
During the company conference call, management was enthusiastic about the Moncler Genius 2021 digital and physical show that took place on Sept. 25. Connecting five worldwide cities, the showcase generated 510 million views and posted a reach of 4.2 billion. The company said that 30 percent of the views came from China.
Moncler also completed the internalization of its worldwide e-commerce business and opened nine directly operated stores in the third quarter with flagships in Milano Galleria, Chengdu and Hangzhou MixC. At the end of September, Moncler monobrand boutiques totaled 233 units. “All stores to be opened in 2022 will be opened as planned and our strategy in China has not changed,” said chief corporate and supply officer Luciano Santel, who added that online sales constitute 15 percent of the Moncler brand’s total and includes direct e-commerce and online retail business.
“We are preparing for the coming months in the best way possible, with the clear objective of continuing to strengthen our group’s presence in the new luxury segment,” Ruffini added.
Wholesale revenues of the Moncler brand are expected to rise by mid- to mid-high single digits for the full year compared to 2019 levels, noted Moncler strategic planning, intelligence and investor relations director Paola Durante during the company conference call.
In the nine months ended Sept. 30, sales of the Moncler brand surged 87 percent to 1.02 billion euros, while sales of the recently acquired Stone Island, which books 78 percent of its revenues in the EMEA region, rose 13.3 percent to 156.4 million euros.
Geographically, sales of the Moncler brand in Asia were up 46 percent to 467.9 million euros in the first nine months of the year, as sales in mainland China doubled in the third quarter. The EMEA region saw a 37 percent rise in sales to 379.1 million euros in the same period. The Americas rose 17 percent to 173.9 million euros. Wholesale revenues reached 318.8 million euros, up 31.2 percent, while d-to-c sales rose 68.8 percent to 702.1 million euros.
While momentum in regions like Australia, as well as Japan and Taiwan, where COVID-19 spiked over the summer, remain a concern, Santal highlighted a positive sales performance for Moncler in the first two weeks of October.
“We are happy with the way the fourth quarter started. So far so good.”