Italian fashion firm Moncler Group's revenue increases 17% in 9M FY23

Breaking down the revenues by brand, Moncler itself generated €1,496.3 million in 9M FY23, marking a 21 per cent increase at constant exchange rates. The brand's solid growth in the third quarter was primarily driven by the direct-to-consumer (DTC) channel, which grew at a double-digit rate of 18 per cent at constant exchange rates. Conversely, the wholesale channel for Moncler experienced a 9 per cent decrease at constant exchange rates in the third quarter, affected by the conversion of some significant wholesale accounts to DTC in the Americas, Moncler Group said in a press release.

For the Stone Island brand, revenues reached €310.1 million in the first nine months of FY23, a modest 3 per cent increase at constant exchange rates compared to the same period in FY22. The third quarter saw stable revenues, with double-digit growth of 16 per cent at constant exchange rates in the DTC channel. This performance was mainly fuelled by robust sales in the EMEA region and Japan. However, the wholesale channel for Stone Island was down 6 per cent at constant exchange rates, largely due to strict volume control aimed at improving distribution quality.

“I am very pleased with the results achieved during the third quarter of the year, when both the Moncler and the Stone Island brands delivered robust double-digit growth in the core DTC channel, despite a continuously volatile operating environment,” said Remo Ruffini, chairman and chief executive officer of Moncler.

Fibre2Fashion News Desk (DP)