Revenues at Italian luxury down jacket maker Moncler grew by 55 percent in the third quarter of the year. Shutterstock.
Revenues at Italian luxury down jacket maker Moncler grew by 55 percent in the third quarter of the year boosted by strong sales in North America, China and South Korea, beating analyst expectations.
Sales of the Moncler brand increased by 27 percent at constant exchange rates compared to the previous year to €455 million ($531.62 million), and were 10 percent above the 2019 third quarter, before the pandemic hit.
In the April-to-June quarter the label’s revenue more than doubled compared to 2020, but were only 5 percent above 2019 levels.
The recently acquired Stone Island brand — which was consolidated in the groups’ accounts in April — totalled €100 million, contributing to the €555.5 million of consolidated group sales, which signals a 33 percent increase from the same period in 2019.
Analysts had expected total sales of €538 million in the quarter, €446 million from the Moncler brand and €92 million from Stone Island, according to a consensus provided to analysts by the company.
By Claudia Cristoferi; Editor: Kirsten Donovan
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