Italian fashion group Moncler posted on Wednesday a 16 percent increase in first quarter sales at constant exchange rates, boosted by solid demand in China, a country which has turned into a sore spot for some luxury brands.

Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.

Global sales for the Moncler brand grew 20 percent year-on-year, despite a decline in the wholesale channel, with a double digit growth across all the regions.

Sales at Stone Island, the brand Moncler bought in 2021, were down 5 percent.

Reporting by Elisa Anzolin, editing by Valentina Za

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