Moncler Group’s FY23 Ebit increases by 15 percent

Annual net income inched up by 1 percent to €611.9 million from €606.7 million. Gross margin increased by 70 basis points to 77.1 percent from 76.4 percent. Moncler Group said while its operating environment remains complex and unpredictable, “it will continue to navigate through these uncertainties remaining vigilant while leveraging on [its] agility and reactivity.” 

Moncler brand revenues increased by 19 percent in constant currency to €2.57 billion last year as DTC sales rose by 25 percent to €2.16 billion and wholesale channel sales fell by 6 percent to €409.2 million. In Q4, wholesale revenues slid by 15 percent due to conversions at Nordstrom and part of Saks in the US, along with ongoing efforts to upgrade the quality of its distribution network. By geography, EMEA constant currency revenues grew by 14 percent in FY23 to €910.5 million, and Q4 sales across the region increased by 7 percent despite a difficult year-over-year comparison due to strong DTC results. In Asia, FY23 sales improved by 30 percent to €1.29 billion. Meanwhile, FY23 revenues in the Americas declined by 1 percent to €371.3 million. 

At Stone Island, full-year revenues rose by 4 percent on a constant-currency basis to €411.1 million, with the DTC channel growing by 19 percent to €172.8 million, fueled by solid contributions from both EMEA and Asia. Wholesale brand revenues fell by 5 percent to €238.2 million. Regionally, EMEA Stone Island sales increased by 3 percent in constant currency to €287.5 million. Annual brand sales in Asia, meanwhile, increased by 16 percent to €89.4 million and slipped by 17 percent in the Americas to €34.1 million, with the performance impacted by challenging trends in the department store channel.

At the end of 2023, the group had 269 retail stores in its Moncler brand distribution network, including 95 in the EMEA and 81 Stone Island retail locations, with 26 in the EMEA, 48 in Asia, and 7 in the Americas.