Moncler sees double-digit growth in first half of the year
Moncler, the Italian outerwear-maker turned full blown luxury fashion house, is continuing to see incredible success from recent strategic plans. First, the company is ambitiously trying to redefine the fashion pipeline with its “Genius” collections, each of which are created by one of the fashion world’s top designers and leverage social media, live events, and more to get their wares onto the high street. And second, Moncler’s ongoing drive towards digitisation. Taken together, these moves constitute a major factor in the company’s first half of the year, which has seen it achieve double-digit growth.
Moncler’s share price has risen by 35% so far this year
Source: Yahoo Finance
Moncler said that earnings rose by 16% in the first half of the year, while sales (on a currency neutral basis) grew by 13%. These figures, though, mask an acceleration in Moncler’s business. In the first quarter, consolidated revenue (once more, adjusted for currency fluctuations) rose by 14% - in the second, they rose by 18%. All of these figures are reported on a year on year basis.
Moncler’s CEO, Remo Ruffini, said: “Innovate to invent our future every day, go beyond the ordinary to discover our extra-ordinary, continuously find new methods of collaboration to harness the genius that lies in each and every one of us. This is what I ask and what my team demonstrates every day. The first Moncler Hackathon, a 24-hour long marathon was an emotional moment for all of us, filled with excitement for innovation and the results exceeded any of my wildest expectations. Seeing over 450 Moncler employees, coming from different countries, departments and backgrounds, working together on numerous themes relevant to our future, further consolidated my belief in the uniqueness of our Company and in its great strength, as also expressed by our results.”
Dominion holds Moncler in its Global Trends Luxury Fund.
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