- Prachi Singh |
Revenues at Italian luxury outerwear maker Moncler increased 12 percent at constant exchange and 14 percent at current exchange to 995.3 million euros (1,105.3 million dollars) in the first nine months of 2019. In the third quarter, the company’s revenues rose by 10 percent at constant exchange and 12 percent at current exchange rates.
“Moncler has again recorded double-digit revenue growth in the third quarter of 2019, despite unexpected external events which affected our performance in some of important markets. We are mindful of uncertainty and volatility ahead of us,” said Remo Ruffini, Moncler’s Chairman and Chief Executive Officer in a statement.
Performance in Asia boost Moncler’s sales despite Hong Kong protests
The company said, revenues in the company’s home market Italy rose 6 percent in the nine months and 4 percent in the third quarter. Revenues in EMEA grew by 11 percent at constant exchange with 7 percent growth recorded in the third quarter, driven by performance in Germany and the Scandinavian market. The Asia and rest of the world area, which account for about 40 percent of total revenues, posted a 15 percent revenue rise, thanks to Japan, Mainland China and Korea, despite subdued performance in Hong Kong, the group said. Sales in Americas grew by 10percent at constant exchange rates.
Revenues from the retail channel rose to 690.4 million euros (766.8 million dollars) in the first nine months, an increase of 16 percent or 13 percent at constant exchange rates. In the third quarter, revenues rose 12 percent at constant exchange and 15 percent reported. The company’s wholesale channel reported sales of 304.9 million euros (338.6 million dollars) in the first nine months, an increase of 11 percent or 9 percent at constant exchange. In the third quarter, wholesale revenue increased 6 percent at constant exchange and 8 percent reported.