Moncler’s first half profits climbed 260 percent to €211.3 million from €58.7 million as revenues increased 46 percent on a constant-currency basis to €918.4 million from €621.8 million. DTC sales from the Moncler brand rose 33 percent to €555.9 million, with wholesale revenues gaining 14 percent to €168.3 million and store comps increasing by19 percent.
EMEA sales rose by 42 percent on a constant-currency basis for the six months to €264.5 million, with second-quarter sales across the continent up 32 percent. Aside from demand from American tourists, the region’s growth was mainly driven by results in France, Germany, and the Middle East. Meanwhile, Asia first half revenues increased 18 percent to €333.3 million, sparked by double-digits in Japan and Korea in the second quarter. In April and May, approximately one-third of stores in China were shuttered due to Covid-related lockdowns. Sales in the Americas increased 28 percent on a constant-currency basis to €126.6 million, largely on strong demand in the U.S.
The company’s Stone Island sales increased 35 percent on a pro forma basis in the first half to €194.1 million, with DTC accounting for €16.1 million and wholesale, €133.0 million. The brand’s d-t-c business benefitted from the conversion of the South Korean business to a joint venture. During the remainder of 2022, Stone Island will continue to convert its distributor markets to joint ventures with a company-owned majority stake. EMEA sales, meanwhile, rose 23 percent to €138.2 million, with the strongest market gains in France, Germany, and Italy. Strong organic growth in Japan coupled with the South Korea conversion contributed to 83 percent revenue improvement in Asia to €33.3 million. Americas’ revenues increased 61 percent to €22.6 million.
