Moncler posts smaller than forecast decline in quarterly revenues

Revenues at Italian luxury outerwear group Moncler fell 1% at constant exchange rates in the third quarter, hit by weak tourist demand in Europe and Japan despite an increase in sales in the Americas.

The Milan-based group, best known for its glamorous puffer jackets, posted revenues of 616 million euros ($718 million) for the July-September period, above a company-provided analyst consensus forecast of 604 million euros.

Revenues at the Moncler brand held steady in Asia – an area that accounts for roughly half of the total – as China continued to outperform the rest of the region where Japan and Korea instead performed weakly. 

Last week, Moncler opened ‘Casa Moncler’ as its new headquarters in Milan, Italy. Measuring 77,000 square metres, the six-storey, 32-metre-high building features a showroom and a green space and brings together all of the brand’s Milan-based employees, who were previously spread across three different sites.

FashionNetwork.com with Reuters