Moncler posted consolidated revenues of €872.7 million for the first nine months of 2018, which represent an 18 percent increase compared with the first nine months of 2017, or a 23 percent increase at constant exchange rates. Growth was evident across all markets and distribution channels. Commenting on the figures, Remo Ruffini, Moncler's president and chief executive, said that the result was “exceptional” considering the increasingly challenging comparison base. In the third quarter of 2018, revenues increased by a reported 15 percent, and by 18 percent at constant exchange rates.
By geographic areas, Italy saw revenues rise by 8 percent in the first nine months, mainly driven by retail, also thanks to the new store in Florence and the flagship store in Milan-Montenapoleone. In the third quarter, sales in Italy grew by 7 percent. In the EMEA region, excluding Italy, the increase in the nine months was 15 percent, and 13 percent at constant exchange rates, with important results in all core markets, the company said. In the third quarter, sales in the EMEA region increased by 13 percent at constant exchange rates.
Asia & Rest of the World outperformed all regions, posting a 32 percent sales growth, and a 39 percent growth at constant exchange rates, in the first nine months (+36% at constant exchange rates in the third quarter). China's mainland, in particular, outperformed the rest of the region. Finally, the Americas showed a revenue increase of 10 percent, and of 19 percent at constant exchange rates, in the first nine months. The sales increase in the third quarter was 10 percent at constant exchange rates. Both the U.S. and Canada recorded solid growth, and in both distribution channels.
By distribution channel, retail revenues for the first nine months of 2018 stood at €597.3 million and increased by 25 percent from the same period last year, while at constant exchange rates the increase was 30 percent. The growth in the retail channel was driven by outstanding growth on a same-store basis and the development of the mono-brand retail network, the company said.
Wholesale revenues in the first nine months grew by 6 percent, or by 10 percent at constant exchange rates, to reach €275.4 million, driven by the positive response to Moncler's autumn/winter 2018 collections as well as the launches of Moncler Genius and the development of the shop-in-shop network.
The number of directly operated stores (DOS) as of Sept. 30, 2018 stood at 214, marking an increase from 201 mono-brand stores as of Dec. 31, 2017. The number of wholesale shop-in-shops increased to 67, eight more than at Dec. 31, 2017. In the third quarter of 2018, Moncler opened five retail stores and two shop-in-shops.