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The Italian group achieved a turnover and net profit up 25% and 47% last year. Its two brands, Moncler and Stone Island, performed in all markets and channels.
The Moncler Group, the owner of the eponymous brand of luxury down jackets and Stone Island, did some great things in 2022. Its annual turnover soared by 25% at constant exchange rates to 2.6 billion euros,exceeding a consensus given by the company of 2.5 billion euros. The performance was driven by solid growth in all markets and its two channels (wholesale and retail).
Net profit jumped 47% to 606.7 million euros, compared to 411.4 million in 2021. It includes a unique tax benefit of 92.3 million euros for the realignment of the tax value of its Stone Island brand.
Expectations exceeded
“2022 was a year of great emotions and success that exceeded our expectations”, said Remo Ruffini, President and CEO of Moncler S.p.A, “proud to present excellent results, the value of which is even more significant given the complicated context in which they were achieved.” “It was also a highly symbolic year: the 70th anniversary of Moncler and the 40th anniversary of Stone Island, during which we celebrated the journey of these two extraordinary brands”. Sales of the Moncler brand increased by +19% to 2.2 billion euros, an increase of +36% compared to 2019!
Another good surprise was that the pace accelerated in the fourth quarter, with a growth of +16% to 949 million euros. This represents an evolution of +52% compared to the last quarter of 2019, accelerating in all regions.
Stone Island, its high-end casual clothing brand for men and children, has also achieved an excellent year in 2022. Its sales grew by +28% to 401 million euros, compared to the 2021 pro-forma (the consolidation of Stone Island took place on April 1st, 2021). And the brand accelerated the pace significantly (+48%) at the end of the year, driven by solid growth in all its central markets.
A healthy Asian market
Geographically, the good news is that the group has done very well in Asia, its main market, despite the challenges encountered in China.
Sales of Moncler have thus rounded off in the APAC zone (including Japan and Korea) by +14% to 1 billion euros. In the fourth quarter, revenue increased again by 12% compared to the same period in 2021 and by +56% compared to 2019! A performance link to Korea’s acceleration and a solid performance in Japan. The APAC region has certainly been penalized in October and November on the Chinese market, anti-covid restrictions oblige. But the easing of the latter in December allowed a quick recovery.
About 2023, Remo Ruffini spoke about “a macroeconomic environment that remains complex and characterized by persistent uncertainty, but also by many opportunities.” This allows him to “approach,” despite everything, “the year with confidence.”
Read also > Moncler in great shape in the third quarter
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The Italian group achieved a turnover and net profit up 25% and 47% last year. Its two brands, Moncler and Stone Island, performed in all markets and channels.
The Moncler Group, the owner of the eponymous brand of luxury down jackets and Stone Island, did some great things in 2022. Its annual turnover soared by 25% at constant exchange rates to 2.6 billion euros,exceeding a consensus given by the company of 2.5 billion euros. The performance was driven by solid growth in all markets and its two channels (wholesale and retail).
Net profit jumped 47% to 606.7 million euros, compared to 411.4 million in 2021. It includes a unique tax benefit of 92.3 million euros for the realignment of the tax value of its Stone Island brand.
Expectations exceeded
“2022 was a year of great emotions and success that exceeded our expectations”, said Remo Ruffini, President and CEO of Moncler S.p.A, “proud to present excellent results, the value of which is even more significant given the complicated context in which they were achieved.”
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The Italian group achieved a turnover and net profit up 25% and 47% last year. Its two brands, Moncler and Stone Island, performed in all markets and channels.
The Moncler Group, the owner of the eponymous brand of luxury down jackets and Stone Island, did some great things in 2022. Its annual turnover soared by 25% at constant exchange rates to 2.6 billion euros,exceeding a consensus given by the company of 2.5 billion euros. The performance was driven by solid growth in all markets and its two channels (wholesale and retail).
Net profit jumped 47% to 606.7 million euros, compared to 411.4 million in 2021. It includes a unique tax benefit of 92.3 million euros for the realignment of the tax value of its Stone Island brand.
Expectations exceeded
“2022 was a year of great emotions and success that exceeded our expectations”, said Remo Ruffini, President and CEO of Moncler S.p.A, “proud to present excellent results, the value of which is even more significant given the complicated context in which they were achieved.”
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