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Moncler’s Revenue Surge Driven is by Direct-to-Consumer Sales and Strong Regional Performance
Sectors & Markets
16 July, 2024
Table of contents
The Moncler Group recently released its Q1 2024 Interim Management Statement, showcasing impressive financial performance. The report, published on 23rd April 2024, reveals robust growth across key financial indicators, geographical performance, and sales channels, underscoring the company’s strong market position and strategic execution.
Moncler Group reported total revenues of €818 million for Q1 2024, marking a 16% increase compared to the same period last year. The core Moncler brand achieved revenues of €705 million, representing a 20% year-on-year growth. In contrast, Stone Island experienced a 5% decline in revenues, amounting to €113 million.
The Group’s performance varied across different regions:
Americas : Revenues increased by 14%, driven by a strong Direct-to-Consumer (DTC) channel performance, which offset the decline in wholesale.
EMEA : Revenues rose by 15%, with solid growth in the DTC channel and improved tourist purchases.
Asia : The region, including APAC, Japan, and Korea, saw a 26% growth, led by robust demand in mainland China and increased Chinese consumption abroad.
Moncler’s DTC channel recorded €608,5 million in revenues, a substantial 26% increase from Q1 2023. This growth was evident across all regions, both in physical and digital channels. On the other hand, the wholesale channel faced a 5% decline, reaching €96,5 million, due to strategic distribution network upgrades and the conversion of key department stores.
For Stone Island, the DTC channel grew by 31% to €49,4 million, while the wholesale channel saw a significant 23% drop to €63,6 million, influenced by market trends and volume control measures.
Compared to Q1 2023, Moncler’s growth is evident in the DTC channel's strong performance across all regions. Stone Island’s decline in wholesale was partially mitigated by robust DTC growth, highlighting the brand’s ongoing transition and market adaptation.
Moncler Group continues to advance its sustainability agenda with notable achievements and ambitious future goals. The company focuses on three main pillars: environmental responsibility, social commitment, and governance excellence.
Moncler has committed to reducing its carbon footprint through energy-efficient operations and sustainable sourcing practices. The Group aims to achieve carbon neutrality across its global operations by 2030, investing in renewable energy projects and enhancing its supply chain’s sustainability.
Moncler is dedicated to fostering a diverse and inclusive workplace. The company supports numerous social initiatives, focusing on employee well-being, community engagement, and equitable growth opportunities. Moncler’s recent collaborations with cultural icons and global influencers reflect its commitment to inclusivity and community building.
Strong governance practices underpin Moncler’s strategic decisions, ensuring transparency, accountability, and ethical conduct. The Group regularly reviews and updates its governance policies to align with international best practices and stakeholder expectations.
The Moncler Group's financial results for Q1 2024 demonstrate a solid start to the year, with substantial growth in the DTC channel and across key geographical markets. The Group remains focused on expanding its global presence, enhancing brand experiences, and achieving its sustainability goals. Future analysis could delve deeper into the long-term impact of the Group’s sustainability initiatives and market expansion strategies on its financial performance and brand equity.
Moncler Group’s robust financial performance and steadfast commitment to sustainability position it well for continued success in the competitive fashion and luxury market.
Read the full Moncler Group report Here.
Cover Image Courtesy: Moncler, Facebook Page