Moncler Group 2023 revenues grazed 3 billion euros, growing 15 percent compared with 2022.
“We celebrate the anniversary with an excellent set of results, and revenues more than five times what they were in 2013,” chairman and chief executive officerbrand, rose 15 percent to 2.98 billion euros, compared with 2.6 billion euros in 2022. At constant exchange, revenues rose 17 percent. In the fourth quarter, group revenues were up 16 percent at constant exchange rate to 1.17 billion euros compared with the same period of 2022.
Operating profit rose to 893.8 million euros compared with 774.5 million euros in the previous year, with an EBIT margin of 30 percent.“These financial results are more than just numbers: they are a testament to a decade of thinking beyond conventions, a relentless pursuit of product excellence, a consistent customer-centric focus and an unwavering brand-first strategy that continues to guide our Group and inspire our people,” Ruffini continued.
The Europe, Middle East and Africa region recorded revenues of 910.5 million euros, up 13 percent compared to 2022. In the fourth quarter, revenues in the area increased by 7 percent at constant exchange, with an acceleration driven by the DTC channel, with a positive contribution from both tourists and locals. Chinese, Korean and American customers remained the strongest contributors to tourist purchases in the region.
Revenues in the Americas were down 19 percent to 34.1 million euros compared to 2022, impacted by challenging trends mostly among department stores, as well as by the ongoing efforts in upgrading the quality of this channel. Roberto Eggs, chief business strategy and global markets officer, said the retail trend for the group in the first months of 2024 is “very solid, we are very happy with the direct-to-consumer growth in all regions, we have kept momentum.” Responding to analysts, he said the Chinese cluster “was one of the best, growing 50 percent on a two-year stack,” and citing good performance in Japan, Hong Kong and Macao.
Asked about buying real estate, he said “it’s not in the philosophy of the company, we have very good locations but we don’t need to buy into properties.”
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