Moncler, the Italian luxury fashion retailer, hopes 2022 sales to attain US $ 2.53 billion despite sales getting impacted in China due to new restrictions.
Chinese lockdowns, which began in March in some cities, were the biggest concern; however, if the situation is resolved in the second quarter – which is seasonally less important for the group – they would not produce big damages.
The retailer said that around 30 per cent of its main brand’s stores in China were currently closed because of the restrictions, up from 10 per cent in March.
The Group has also expressed plans that it would open or revamp 200 stores in the next three years and raise e-commerce sales for its eponymous brand known for its puffer jackets to 25 per cent of total revenues.
Notably, there are plans of 10-14 new openings in the Asia Pacific region, including a flagship store in Beijing.
By 2025, Moncler expects more than 50 per cent of growth to come from China and the US, the Group said.
Founded in 1952, Moncler is mainly known for its skiwear.
