The DTC channel paced Q1 sales growth for the Moncler Group, rising by 34 percent on a constant-currency basis to €501.5 million for the Moncler brand and 40 percent to €39.1 million for the Stone Island business, which will have a new CEO in Robert Triefus on June 1.
Group consolidated revenues rose by 23 percent in Q1 to €726.4 million versus €589.9 million in the year-ago period. Aside from DTC, the Moncler brand was paced by double-digit increases in both the EMEA and Asia. EMEA sales, driven by local demand and tourists, rose by 29 percent to €215.9 million. Asia’s constant-currency sales expansion of 32 percent to €304.4 million was driven by strong demand from Chinese consumers. Q1 sales in the Americas lifted 9 percent on a constant-currency basis to €84.5 million despite a significant number of U.S. tourists purchasing the brand in Europe. The brand ended the period with 255 retail stores, including 89 in the EMEA and 127 in Asia.
At Stone Island, Q1 total revenues rose by 5 percent to €121.6 million despite a 6 percent drop in wholesale revenues to €82.5 million. Asia, aided by 16 wholesale-to-retail store conversions in Japan, produced 28 percent constant-currency sales growth to €22.9 million in Q1. Korea performed weaker than other Asian markets due to ongoing business model changes. Italy and France led the EMEA region, where Q1 sales improved 4 percent to $87.8 million. Brand sales in the Americas, impacted by a weaker business climate and cautious buying by department stores, declined by 20 percent on a constant-currency basis to €10.8 million. The brand had 71 retail stores in operations at period end and 19 mono-branded wholesale stores.
Triefus, who has had a long career in the luxury sector, will be charged with leading Stone Island’s second phase of development, which includes expanding the brand’s international relevance.
