The Italian fashion group Moncler Group was also able to achieve a double-digit increase in sales and increase its profits in the 2023 financial year. The parent company of the Moncler and Stone Island brands owed the growth particularly to strong demand in Asia.
On Wednesday evening, the parent company Moncler SpA announced that group sales reached 2.98 billion euros last year. This exceeded the 2022 level by 15 percent. Adjusted for exchange rate changes, revenue increased by 17 percent.
The group is benefiting from the rapidly increasing demand in Asia
The growth driver was the core brand Moncler, with an increase of 17 percent (currency-adjusted +19 percent) to 2.57 billion euros. Demand developed particularly dynamically in Asia, with sales growing by 25 percent (currency-adjusted +30 percent) to 1.29 billion euros. In the EMEA region, which includes Europe, the Middle East and Asia, the label’s revenues rose by 13 percent (currency-adjusted +14 percent) to 910.5 million euros; in America they increased by one percent (currency-adjusted -1 percent). 371.3 million euros.
The Stone Island brand, which has been part of the group since 2021, achieved a sales increase of two percent (currency-adjusted +4 percent) to 411.1 million euros and also benefited from above-average growth in Asia (+12 percent, currency-adjusted +16 percent).
The group increased its gross margin, but also increased investments and marketing expenses. The operating margin remained almost unchanged, and earnings before interest and taxes rose by 15 percent to 893.8 million euros. Due to higher tax burdens, net profit only grew by one percent to 611.9 million euros.