Moncler thrives in Hong Kong, Mainland China
Hong Kong and China were the fastest-growing markets globally for edgy Italian outdoor-wear brand Moncler in the first quarter of this year.
In every market in which the company operates, it achieved double-digit growth, even when unfavourable currency exchange rates in some were taken into account. Sales in Asia and other markets outside Europe and the Americas, rose 39 per cent at constant exchange rates, the highest growth rate of any region, reaching €146.4 million (US$175.1 million).
Within Asia, according to Moncler’s chairman and CEO Remo Ruffini, “China’s mainland and Hong Kong largely outperformed the growth of the region”.
Worldwide, Moncler’s sales rose 28 per cent at constant exchange rates, to €332 million. Retail revenue rose 35 per cent and wholesale revenue by 9 per cent.
Ruffini attributes the success to the Moncler Genius project – a creative hub, which has “reimagined Moncler’s soul by going beyond the season’s concept”.
“The idea for this was born from a desire to seek innovative forms of expression, to constantly dialogue with the clients, fuelled by a new digital approach. Each collection will be singularly dropped, starting from June 14 with Moncler Fragment Hiroshi Fujiwara, followed by all the others on a monthly basis”.