Moncler is puffing up its luxury portfolio, announcing its first results as a multi-brand company.
On July 27, the Italian down jacket maker reported that group revenue climbed 57 percent to $736 million (622 million euros) in the first half of 2020, overtaking H1 2019 revenue by 11 percent. This was largely fueled by its eponymous brand, which saw revenues surge 43 percent year-over-year to $669 million (565.5 million euros) in the six months to June.
These figures were boosted by the consolidation of Stone Island’s results for the first time, following its $1.3 billion acquisition last year. In the second quarter, the high-end streetwear brand contributed $66.5 million in revenues, although the fashion house notes that total H1 2021 revenue would have been $840 million had Stone Island been integrated in January instead of in April.
Looking at the second quarter alone, the Moncler brand jumped 118 percent in sales to $236.8 million compared to the same period last year. Among the markets that stood out were the US — propelling the Americas past pre-pandemic levels — and China, where revenue almost doubled compared to Q2 2019.
The latter comes at no surprise, however, considering the brand’s focus on local communities. Not only did Moncler team up with Harper’s Bazaar China for a “Youth Album” featuring the mega-popular idol contestants of Chuang 2021, but it also released a limited-edition 520 Valentine’s Day collection in China, helping it top the Jing Daily KraneShares China Global Luxury Index in May.
And this momentum on the Mainland should continue into Q3. By tapping Nike alum Gino Fisanotti to head its newly created role of Chief Brand Officer last month, Moncler is expected to strengthen storytelling around its new concept of luxury, which centers on building consumer experiences and blurring the lines between arts, culture, music, and sports. Moreover, the drop of its latest collection, 7 MONCLER FRGMT HIROSHI FUJIWARA, with the so-called “godfather of Japanese streetwear” on WeChat should further expand its footprint in the market
That said, the company is cautiously optimistic about the future. As CEO Remo Ruffini stated, “the most important part of the year lies ahead” for the winter apparel giant. However, the strong results for this spring quarter — which typically accounts for only a fifth of full-year sales — show that no matter the season, Moncler is bringing the heat.