Moncler Sales Rose 15 Percent in 2017
The Italian luxury outerwear maker said it foresaw further growth in 2018, after posting a rise in revenue last year and launching a new product strategy based on faster-paced collections.
MILAN, Italy — Italian luxury outerwear maker Moncler said on Monday it foresaw further growth in 2018, after posting a 15 percent rise in revenue last year and launching a new product strategy based on faster-paced collections.
The group said last week it was changing its product strategy, bidding farewell to catwalk shows in favour of monthly product launches, in a bid to keep up with the industry's younger and more fickle customers.
Revenue last year rose to 1.194 billion euros (1.05 billion pounds), just above a Thomson Reuters estimate of 1.183 billion euros. Sales were up 17 percent at constant exchange rates.
Moncler, which sells signature puffer jackets for as much as 1,000 euros ($1,230) proposed to pay a dividend of 0.28 euros per share on 2017 results, up from the 0.18 euros per share paid the previous year.
"...We have decided to start a new exciting and challenging chapter for our business, which I strongly believe, will drive us to new heights with greater determination," Chairman and Chief Executive Remo Ruffini said in a statement.
By Giulia Segreti; editor: David Evans.