Consolidated H1 revenues rose by 24 percent in both reported and constant currency for the Moncler Group to €1.14 billion from €918.4 million for the six months ended June 30. Moncler brand sales rose by 29 percent to €935.0 million and Stone Island sales increased by 4 percent on a reported basis to €201.6 million. Ebit was 21 percent year-over-year to €217.8 million, and group net income, excluding a year-ago extraordinary tax benefit of €92.3 million related to Stone Island, increased by 22 percent to €145.4 million from €119.0 million.
Moncler enjoyed strong double-digit growth in Q2, rising by 37 percent in constant currency to €757.5 million, and the brand’s direct-to-consumer business grew by 45 percent during the three months, driven by double-digit improvement in all three global regions. The EMEA and Asia fueled 5 percent Q2 growth for Stone Island, which welcomed Robert Triefus as CEO on June 1.
By region, the EMEA experienced 30 percent year-over-year sales growth in Q2 and 29 percent in H1 for the Moncler brand to €340.7 million, with the growth fueled by solid demand from both locals and tourists. In Asia, H1 Moncler revenues jumped by 39 percent in constant currency to €456.8 million and by 55 percent year-over-year in Q2. Meanwhile, Moncler Americas’ sales rose by 3 percent in H1 to €137.6 million but declined by 5 percent in Q2 due to conversion at retailer Nordstrom from wholesale to a hybrid business model.
At Stone Island, EMEA H1 revenues improved by 5 percent in H1 to €145.6 million. H1 brand sales in Asia, which includes APAC, Japan, and Korea, rose by 21 percent in constant currency to €38.8 million. Americas’ revenues fell by 24 percent on a reported basis to €17.1 million due to softer wholesale business trends and more cautious department store retailers.
Going forward, Moncler said the Stone Island brand will look to strengthen its position in core markets, including European countries, and increase distribution penetration in newer markets with high growth potential. Additionally, the business will open select retail locations featuring a new store design that targets key customers of the brand.
