- Fibre2Fashion News Desk
Italian fashion firm Moncler records first half revenue of €622 mn
Moncler, an Italian apparel and lifestyle luxury company, has recorded 57 per cent revenues increase to €621.8 million in its first half (H1) of FY21 ended on June 30, 2021, compared to the revenues of €403.3 million in H1 FY20. This performance was driven by Moncler brand with 43 per cent gain in sales during six-months to €565.5 million.
Particularly in the second quarter, Moncler brand witnessed double digit growth in US, China, Korea and it is online sales as well. Moreover, Stone Island brand reported sales of €56.2 million in Q2 FY21.
“For more than a year we have been living in an unforeseeable and unpredictable situation, which sparked a renewed energy and ability in us to evolve and improve,” Remo Ruffini, Moncler’s chairman and chief executive officer, said in a press release.
“We brought our EMEA e-commerce in house in May, followed by Japan in July. Moreover, we have reinforced our management team by introducing the role of chief brand officer for the Moncler brand,” Ruffini added.
Gross margin in the first half totalled €467.6 million, with EBIT growing to €92.8 million (loss: €35.5 million). Italian brand’s net profit improved to €58.7 million (loss: €31.6 million).
Geographically, revenue from Asia (including APAC, Japan and Korea) climbed 59 per cent to €282.5 million (€181.7 million). The results in Asia were attributed to strong sales from China which almost double compared to Q2 of FY19. Furthermore, EMEA revenue rose 10 per cent to €187.7 million (€171.8 million) with UK and Germany significantly outperforming the regional average. Americas revenue doubled to €95.1 million (€49.8 million) during H1 FY21.