In the first nine months of 2021 Moncler Group reached consolidated revenue of 1,177.2 million euros, up 56 percent compared to the same period of 2020 and up 20 percent compared to 2019.
These results, the company said in a release, include Moncler brand revenue equal to 1,020.9 million euros and Stone Island brand revenue, equal to 156.4 million euros, consolidated since April 1, 2021.
In the third quarter, the group reached revenues of 555.5 million euros, up 55 percent compared to the third quarter of 2020 and up 33 percent compared to 2019. This result includes Moncler brand revenues, equal to 455.3 million euros and Stone Island brand revenue, equal to 100.1 million euros.
Commenting on the company’s results, Remo Ruffini, chairman and CEO of Moncler S.p.A., said: “Today we are presenting Moncler Group’s nine months results that are exceeding our own expectations. We are preparing for the coming months in the best way possible, with the clear objective of continuing to strengthen our group’s presence in the new luxury segment.”
Review of Moncler’s financial performance
In the first nine months of 2021, Moncler brand revenues were equal to 1,020.9 million euros, up 4 percent growth compared to the first nine months of 2019. Moncler brand revenues in the third quarter reached 455.3 million euros, up 10 percent compared to Q3 2019. This improvement, the company added, is mainly due to the DTC channel in particular in China, Korea and the United States, and an improvement in EMEA.
In Asia, which includes APAC, Japan and Korea, revenues for the first nine months registered 18 percent growth compared to the same period of 2019. In the third quarter the results of Asia grew 24 percent compared to the same period of 2019, further accelerating driven by China and Korea.
In EMEA, revenues decreased by 12 percent compared to the first nine months of 2019, improving in the third quarter, reaching almost 2019 results, down 2 percent. Americas registered a 14 percent growth compared to the first nine months of 2019. In the third quarter revenues grew 10 percent compared to Q3 2019.
Moncler’s financial results across retail channels
In the first nine months of 2021, the DTC channel reached revenue of 702.1 million euros growing 4 percent compared to the same period of 2019. The third quarter grew 15 percent compared to the same period of 2019. The company further said that this performance benefited from the very good results of the e-commerce channel and from important new openings.
The wholesale channel registered revenues equal to 318.8 million euros with a 5 percent growth compared to the same period of 2019. In the third quarter revenues of the wholesale channel grew by 2 percent compared to the same period of 2019.
As of 30 September 2021, the network of mono-brand Moncler boutiques counted 233 directly operated stores (DOS), an increase of 9 units compared to 30 June 2021 and up 14 units compared to 31 December 2020. Among the most important stores opened in the third quarter were the flagships of Milano Galleria, Hangzhou MixC and Chengdu. The Moncler brand also operates 64 wholesale shop-in-shops (SIS), an increase of one unit compared to 30 June 2021.
Stone Island revenues increase 27 percent
In the first nine months of 2021, Stone Island generated 244.4 million euros revenue, up 27 percent compared to the same period of 2019, of which 156.4 million euros consolidated in Moncler Group since April 1.
In the third quarter, Stone Island registered revenue equal to 100.1 million euros. EMEA is the most important region for Stone Island, contributing to 78 percent of the revenues in the consolidated period. Italy is the main market in EMEA, followed by the United Kingdom, Germany and the Netherlands.
Asia contributed 13 percent of Stone Island revenue for the consolidated period and Americas the remaining 9 percent.
The wholesale channel represented 78 percent of total revenue in the consolidated period with very good performances in all markets. As of 30 September 2021, the network of mono-brand Stone Island stores was made up of 30 retail and 58 mono-brand wholesale stores.