- Moncler S.p.A. reports a 23% increase in Q1 revenue, reaching €726.4 million
- Double-digit growth in direct-to-consumer (DTC) sales drives Moncler and Stone Island brands’ success
- Robert Triefus named as Stone Island’s new CEO, effective June 1, 2023, bringing luxury brand experience to the table
Luxury fashion group Moncler S.p.A. has announced impressive Q1 results, with revenues surging by 23% at both current and constant exchange rates, reaching €726.4 million. The company attributes its strong performance to double-digit growth in the DTC channel for both Moncler and Stone Island brands.
Moncler brand revenues skyrocketed by 28% to €604.8 million, with a 34% boost in DTC sales. This success was fueled by a 32% rise in Asia, particularly in China, Japan, and Korea. The EMEA region also posted a robust 29% increase, driven by local demand and tourist purchases, while the Americas experienced a 9% growth.
Meanwhile, Stone Island revenues climbed to €121.6 million, marking a 5% increase at constant exchange rates and 4% at current rates. The brand saw a remarkable 40% growth in the DTC channel, primarily in the EMEA region.
In a significant leadership change, Moncler S.p.A. has appointed Robert Triefus as Stone Island’s new CEO, effective June 1, 2023. Triefus, who boasts an extensive career in the luxury sector, will report to the board of directors of Sportswear Company S.p.A., chaired by Carlo Rivetti.
As Stone Island wraps up the first phase of its development, Triefus is set to spearhead the second phase, focusing on the strategic evolution of the brand and its international growth. He joins Stone Island from Gucci, where he served in various executive roles over 15 years, including CEO of Gucci Vault and Metaverse Ventures, and senior executive vice president of corporate & brand strategy. Prior to Gucci, Triefus held top communications positions at Giorgio Armani S.p.A. and Calvin Klein, Inc.
With Moncler S.p.A.’s strong Q1 results and the appointment of an experienced leader like Robert Triefus for Stone Island, the luxury fashion house is well-positioned for continued growth and success in the global market.