Moncler, profit at 626 million: advancing Stone Island (+16%)
Moncler reported a consolidated revenue of 3.13 billion euros, showing resilience in the luxury market despite challenges, with notable growth from its brand Stone Island.
Moncler, an important player in the luxury goods market, reported strong financial results for the past year, with consolidated revenues reaching 3.13 billion euros, a 3% increase at constant currency rates. Remo Ruffini, the company's president and CEO, highlighted the solid performance amid a complex market environment, especially with a significant acceleration noted in the fourth quarter for both Moncler and its sibling brand, Stone Island. While growth is not as explosive as in previous years, Moncler's ability to maintain steady revenue figures is notable in a time when many major fashion companies are issuing profit warnings.
Despite Moncler's positive performance, there are emerging trends indicating a shift in consumer preferences, with Stone Island gaining traction among younger consumers. Moncler’s core brand achieved a revenue of 2.7 billion euros, but Stone Island outperformed it with a remarkable growth rate of 16%. This shift in desirability reflects a broader transformation within the luxury sector, where the allure of established brands is being challenged by the rise of younger and trendier labels that resonate more with current consumer tastes.
The implications of these results extend beyond just numbers; they suggest the need for Moncler to reassess its strategies to maintain its competitive edge and ensure continued growth. The evolving landscape of luxury consumer behavior indicates that brands like Stone Island may redefine the market dynamics, encouraging established brands like Moncler to innovate and adapt to retain their place in the market. The future will be pivotal as these brands navigate an increasingly competitive environment while striving to meet the changing desires of luxury consumers.