Double-digit growth for Moncler international
Clothing retailer Moncler international had double-digit growth in all key financial indicators last year, with soaring Asian sales playing their part.
Its revenues for the year reached €1.1 billion (US$1.3 billion), an increase of 17 per cent at constant exchange and 15 per cent at current exchange rates. In the fourth quarter, revenues rose 17 per cent at constant exchange and 14 per cent at current exchange rates.
Moncler chairman/CEO Remo Ruffini says the growth plus a net sales growth of about €200 million confirm the group’s strength and validated its strategy.
In Asia, revenues grew 20 per cent at constant exchange rates with double-digit sales growth for Japan in the fourth quarter.
Robust performances continued in China, says Moncler, driven by a double-digit organic growth in the fourth quarter, and in Hong Kong, where it opened a flagship store in Canton Road.
Revenues from the retail distribution channel last year reached €892.4 million, up 19 per cent at constant exchange rates. The group also achieved comparable store sales growth of 14 per cent.
At the end of December, Moncler’s mono-brand distribution network comprised 201 directly run retail stores, 11 more than the previous year, and 59 wholesale shop-in-shops, up 17. In the fourth quarter, Moncler opened six retail outlets and 11 shop-in-shops.
For the full year, the consolidated gross margin was €917.5 million, 76.9 per cent of revenues compared to 75.7 per cent the previous year. This is attributed to retail channel growth and higher production efficiency.
Adjusted EBITDA rose to €411.6 million from €355.1 million, resulting in an EBITDA margin of 34.5 per cent compared to 34.1 per cent.
Net income was €133.3 million, up 63 per cent.