The Milan-based luxury group Moncler realized 20 percent constant currency growth to €705.0 million for its namesake brand in the period ended March 31. DTC channel constant currency sales increased by 26 percent to €608.5 million, with all three global regions reporting double-digit improvement. Wholesale brand sales fell by 5 percent on a constant currency basis to €96.5 million.
Regionally, Moncler’s Q1 brand sales increased by 15 percent to €245.9 million in the EMEA, on the strength of the DTC channel and higher tourist purchases. Americas’ Q1 sales, also bolstered by the DTC channel, rose by 14 percent on a constant currency basis to €96.4 million despite lower wholesale revenues. Sales in Asia, meanwhile, expanded by 26 percent year-over-year to €362.6 million, fueled by solid growth in China despite a difficult comparison.
Overall, the company reported consolidated Q1 revenue growth of 16 percent on a constant currency basis to €818.0 million versus €726.4 million in the year-ago period.
As for the Stone Island business in Q1, its constant currency sales declined by 5 percent to €113.0 million from €121.6 million in the year-ago period. Dtc sales grew by 31 percent to €49.4 million, and wholesale revenues slipped by 23 percent year-over-year to €63.6 million. Brand revenues were down by 12 percent and 25 percent in the EMEA and Americas regions to €77.7 million and €8.0 million, respectively. Meanwhile, Stone Island’s constant currency sales in Asia, spearheaded by strong growth in Japan, increased by 27 percent to €27.4 million.
