Moncler reported a 16 percent revenue increase at current exchange rates in the first quarter, with consolidated revenues of €276.2 million in the period, driven by sales in Europe. Tourism to the continent fueled the brand's sales, from China but also Korea and Taiwan, the company said. At constant exchange rates, quarterly sales went up by 15 percent.
Moncler, which is best known for its skiwear and down coats, said it is gaining ground in the so-called “other category” products, whose sales growth was higher than the growth in outerwear in the first quarter. The company also said that online sales grew faster than sales in traditional stores.
The Italian market generated a sales increase of 7 percent, thanks to good results in both the retail and wholesale distribution channels. Sales in the rest of the Europe, Middle East and Africa (EMEA) region grew by 26 percent, or by 22 percent at constant exchange rates, driven by strong performances in the U.K., France and Germany. In Asia & Rest of the World, revenues increased by 16 percent in euros, or by 12 percent at constant exchange rates. In Japan both retail and wholesale sales recorded very good performances. China's solid sales growth was mainly driven by the performance of the retail channel.
In the Americas, revenues rose by 16 percent in euros and by 12 percent in local currencies, with solid performances in both the retail and wholesale distribution channels. Retail sales in the U.S. benefited from the opening of new stores, such as the Madison Avenue flagship in New York. Canada continued to produce good results, particularly at wholesale.
By distribution channel, retail revenues reached €203.9 million, representing increases of 20 percent in euros and 18 percent at constant exchange rates. The score was due to solid sales growth on a same-store basis and the continued development of the network of mono-brand retail stores. The wholesale channel recorded revenues of €72.3 million, rising by 7 percent in euros and by 8 percent at constant exchange rates, driven by good results of the spring/summer 2017 collections.
As of March 31, 2017, Moncler's mono-brand retail network consisted of 191 directly operated stores, just one more than on Dec. 31, 2016, and 45 wholesale shop-in-shops, an increase of three units compared with Dec. 31. In the first quarter of the new year, the brand opened a directly operated store in Melbourne, its first one in Australia. Moncler plans to open 15 shop-in-shops this year.