Moncler enjoys sales and profit lift in the UK

The luxury Italian fashion retailer has enjoyed a noticeable surge in sales and profits during the last couple of months.

Part of this success is to be explained by the new collection of goods –dubbed the Mondog- Moncler launched for hounds last month. The Milan-listed label is eager to capitalise on the rising demand for its limited edition apparel for pets.

Recent reports revealed some items have sold out globally, according to the ‘Evening Standard’. Research group Mintel has forecast that the UK market for pet accessories is set to reach 908 million pounds in 2017, with sales expected to top 1 billion pounds by 2021.

Last filed accounts for Moncler show the company’s turnover in the UK went up by 44 percent in 2016 to 35.2 million pounds, compared to 24.4 million pounds in 2015. Pretax profits rose to nearly 4 million pounds, “mainly due" to opening a new flagship shop on Bond Street in May last year.