Moncler Group’s full-year revenues rose 7 percent to €3.11 billion ($3.42 billion), the company announced Thursday. Results beat analyst expectations; shares surged 9.5 percent just before markets closed.
The Italian outerwear giant’s latest figures were the latest signal that the luxury market could be turning a corner, following encouraging results at Richemont and LVMH sales that fell more slowly than the previous quarter.
In the fourth quarter—a crucial moment for winterwear—revenues rose 8 percent, boosted by double-digit growth in mainland China for the Moncler brand and “improving trends” at Stone Island.
Both brands saw year-on-year double digit growth for their DTC channels. “Our group achieved remarkable results, despite a complex and volatile environment,” said group chairman Remo Ruffini. “These results prove the solidity of our business model,” he said.
In addition to their focus on growing its core winterwear, the company has continued to use collaborations with the likes of Rick Owens and Roc Nation to “bring new lovers to the brand and continue with brand elevation,” said Gino Fisanotti, Moncler’s chief brand officer.
2024 fashion highlights included closing out Shanghai fashion week with Moncler’s latest “Genius” event whose 8000 attendees included celebrities like Rihanna and Willow Smith. 67.5 million viewers who watched the event online, the brand said.
