Moncler sees a 20% rise in revenue thanks to China and Hong Kong
High-end outerwear brand Moncler reported wildly positive earnings this month that benefitted from an unusually long and cold winter, and incredible growth in China during the extended Chinese New Year. The company said it saw revenues of €332 million, a 20% increase from the previous year at constant currencies. Adjusted for currency fluctuations, this becomes an even more impressive 28%.
Moncler’s share price has appreciated by an incredible 40% so far this year
Source: Yahoo Finance
Moncler saw “double-digit growth” across all geographies, highlighting the extent of its success in the last quarter. But the clear standout in its reporting was Asia & rest of the world. In that segment, the company saw an enormous 39% growth, and it now makes up 44% of its overall business. According to Moncler, China’s Mainland and Hong Kong “outperformed the growth of the region.” In its Europe, the Middle East, and Africa segment, Moncler saw an 18% increase.
Remo Ruffini, Moncler’s chairman and CEO, made the following comment: "The first quarter of 2018 marked another fundamental step forward in our group’s development. This has been due not only to group’s results, but above all, it has been due to the Moncler Genius project presentation occurred on February 20 – a creative hub, which has reimagined the Moncler’s soul by going beyond the season’s concept. Each collection will be singularly dropped, starting from June 14 with Moncler Fragment Hiroshi Fujiwara, followed by all the others on a monthly basis.”
Dominion holds Moncler in its Global Trends Luxury Fund.
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