Moncler generated a 24 percent increase in H1 net profit to €180.7 million from €145.4 million as Ebit rose by almost 19 percent to €258.7 million. Group consolidated revenues rose by 11 percent on a constant currency basis to €1,230.2 million from €1,136.6 million for the period ended June 30. DTC sales improved by 16 percent on a reported basis to €875.7 million, with wholesale revenues declining by 7 percent to €165.5 million.
By geography, the EMEA was the strongest region for the Milan-based luxury group in H1, with constant-currency sales improving 12 percent year-over-year to €380.6 million, with Chinese, American, and Korean tourists continuing to purchase the brand across the region. Asia revenues climbed up 19 percent to nearly €513 million, driven by strong growth in Japan and positive performance in China. Korea and the remainder of APAC had softer sales trends. Americas’ sales, meanwhile, increased by 7 percent on a reported basis to €147.7 million.
Within the Stone Island brand segment, H1 reported sales slipped by 6 percent to €188.9 million, with DTC up by 26 percent to €92.6 million but Wholesale down by 25 percent to €96.3 million. The brand’s strongest region was Asia, where H1 revenues rose by 27 percent on a constant-currency basis to €46.7 million. However, in the EMEA, considered the most important region for Stone Island, H1 revenues slid by 12 percent to €128.9 million. Meanwhile, challenging trends in the department store channel negatively impacted Americas’ sales for the Stone Island brand in H1, declining by 21 percent on a constant-currency basis to €13.3 million.
In Q2, group revenues rose by 3 percent on a constant-currency basis, bolstered by an 8 percent increase in DTC sales, which were positive in all geographic regions, with the EMEA outperforming. Moncler brand sales equaled €336.3 million, and Stone Island achieved €75.9 million.
