High Scores for Luxury: Strong Performance in Asia Propels Moncler
As we cross the halfway point of 2023, major luxury fashion conglomerates are releasing their performance “report cards”. In this mix, the Italian luxury powerhouse Moncler Group, the parent company of Moncler and Stone Island, proudly reported an increase in sales for the first half of the year.
This promising uptick, thanks to a robust resurgence in Asian markets and significant growth in Europe, the Middle East, and Africa, puts Moncler’s rise at a steady 24%. The group’s overall results for the first half-year exceeded company forecasts, reaching €1.14 billion, as opposed to the predicted €1.12 billion. Additionally, the total operating profit for the first half amounted to €217.8 million, with a revenue margin of 19.2%, surpassing the expected €207 million.
A Testament to Team Spirit: Moncler’s Key to Success
In a statement, Remo Ruffini, the group’s chairman, and CEO, credited the accomplishments to the team spirit, innovative thinking, and customer-focused philosophy embedded within the group. He stated, “At Moncler, we are harnessing all brand tiers, with global customer interactions pushing the brand to the next level. As for Stone Island, under the leadership of the newly appointed CEO, it’s set to begin the second chapter of this unique brand’s development.”
Moncler’s H1 2023 success story reaffirms the impact of teamwork, innovation, and a customer-centric approach, setting the tone for the remainder of the year.