Impressive 16 percent revenue growth for Moncler in Q1 2014
Moncler reports first quarter 2014 revenue increase of 16 percent to 145.4 million euros ($199 million), boosted by Asia and the United States and a good response to its spring-summer collection.
Moncler highlighted comparable sales in Japan, traditionally its largest Asian market as particularly strong, and shrugged off concerns about cooling demand in China due to an economic slowdown in the home of the world’s keenest luxury shoppers.
The company’s home market of Italy, where economic growth unexpectedly declined in the first quarter after emerging from recession late last year, saw sales slump 4 percent.
Summery versions of the famous padded jacket had been well-received, Chief Executive Officer Remo Ruffini said. “We really found the new solution in style, we made a lot of print, totally different from the other seasons, and the reaction of the market was really very strong,” Ruffini said.
The company also started building a business unit for knitwear, Ruffini said. While the chief executive has said he has no plans to make Moncler into a “total look” brand, analysts say relying on one product risks consumer fatigue.
Moncler plans to open around 18 new mono-brand stores this year, addding to the six unveiled in the first quarter, in locations including Moscow and Hong Kong.