It’s a first for Moncler, but something that the Italian fashion brand will not like to talk about!
For the first time in its history of over 6 decades, the fashion retailer had to report a first-half operating loss.
Store closures, due to the pandemic, followed by extended lockdowns and growing fear among consumers to come out of their homes have hit the sales big in Moncler’s second quarter – subsequently impacting its first half.
Talking about total revenues, the numbers in the first 6 months ended 30 June have dipped by 29 per cent to touch €403 million. The first half of 2019 had seen the brand clocking €570 million.
The retail sales, through distribution channels, fell to €300.5 million (31 per cent down) in this year’s first 6 months, while wholesale revenue was €102.8 million (23 per cent down).
Regionwise, sales in Europe, Middle East and Africa (EMEA) slumped by 23 per cent to touch €181.7 million, while the same in Asia and other parts of the globe fell by 27 per cent to also reach €181.7 million.
Even in Italy, Moncler hasn’t had a good first half, with sales going down by 39 per cent to post €41.9 million.
Notably, earnings before interests and taxes, EBIT, slumped to touch €35.5 million, compared with an operating profit of €102.6 million during the same period in 2019.
Though skeptical about how the second half of the year will turn out, Remo Ruffini, Chairman and CEO, Moncler, said that despite all challenges Moncler will emerge stronger.
Moncler, known for its skiwear, was found in 1952 and generates revenue of 1,420.1 million.
