Moncler's profits soar in first half of 2017

Moncler continues to grow at a brisk pace. In the first six months of the year, the luxury down jacket label's results have skyrocketed, producing a net income of €41.8 million, up 25% compared to the same period a year earlier, and a margin of 10.3% of total revenue. The latter leapt by 18% (+17% at constant exchange rates), reaching €407.6 million.


The label's latest ad campaign featuring Chinese artist Liu Bolin - Moncler Annie Leibovitz

Moncler's EBITDA was €97 million, growing 24% and yielding a gross margin of 23.8%.

The label's CEO Remo Ruffini, who bought the French brand in 2003 and led it to a stock exchange listing ten years later, in December 2013, commented with satisfaction in a press release: "Since the brand's listing, this is the fourteenth consecutive quarter in which Moncler has posted double-digit growth." In the second quarter, growth was in fact 20%.
 
The group has kept the same pace as in the first quarter, with positive performances across all markets and distribution channels. Sales in all European countries except Italy, which altogether account for one third of Moncler's revenue, grew 20% at current exchange rates (+24% at constant exchange rates), reaching €127.4 million in the first half of the year, while in Italy they grew 7%.

Revenue was also bolstered by Moncler's strong performance in Asia, where in the period it grew 19%, reaching €159.6 million, notably thanks to the performance in China, South Korea and Japan.

In the latter country, Moncler announced a five-year extension, until 2023, of the contract with Yagi Tsusho, the partner with which in 2008 it signed a joint-venture agreement leading to the creation of Moncler Japan Corporation, in which the Italian label owns a 51% stake.

In the first six months of the year, the revenue of the group's 191 directly owned stores rose 21% compared to the same period last year. Moncler also operates 46 shop-in-shops. The wholesale channel grew 8% for the Italian label, while comparable retail sales rose by 14%.

Translated by Nicola Mira

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