The Moncler Group achieved double-digit growth at constant exchange rates in the first quarter of 2024. But while its eponymous luxury down jacket brand was buoyant, Stone Island, its second skiwear label, declined.
Is small once again beautiful in the world of luxury?
Medium-sized companies are definitely outperforming the luxury giants (with the notable exception of Hermès) at the start of 2024.
Following in the footsteps of compatriots Zegna, Brunello Cucinelli and Prada, it’s now the turn of Moncler, the Italian luxury skiwear specialist, to show its true colors in the first quarter of this year.
Moncler, owner of the eponymous brand specializing in luxury down jackets, as well as the Stone Island label, has just announced consolidated revenues up 16% at constant exchange rates to 818 million euros. The Italian group, in the hands of transalpine institutional investors since 2019, thus pleasantly surprised the consensus of analysts, who were forecasting +11% growth instead.
Moncler laughs, Stone Island cries
This performance was driven by sales of the Moncler brand, up +20% to 705 million euros, against consensus forecasts of +15%.
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Read also > MONCLER EXCEEDED EXPECTATIONS IN 2023
Featured Photo: © Moncler
