The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Revenues at Italian luxury down jacket maker Moncler topped analyst expectations in the second quarter helped by easing COVID-19 restrictions, adding to evidence of a sharp rebound in the sector.
Moncler more than doubled sales of its eponymous brand in the period, surpassing pre-pandemic levels, with the recent acquisition of high-end streetwear brand Stone Island Moncler further boosting group revenue starting from April.
Excluding the Stone Island’s acquisition, Moncler’s revenue jumped 118 percent to 200 million euros in the April-to-June quarter from the same period of last year, which was the hardest hit by the pandemic with shops shut and international travel brought to a standstill.
Compared with the second quarter of 2019, Moncler’s sales were up 5 percent. The second quarter historically accounts for only a fifth of full-year sales due to the seasonality of the brand.
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Stone Island’s second-quarter sales totalled 56.2 million euros, Moncler said.
Consolidated revenues came in at 256.3 million euros in the quarter, above an average analyst forecast of 248 million euros, according to a consensus provided by the company.
By Claudia Cristoferi; Editing by Valentina Za
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