Italian fashion label Moncler is out with its Q3 report!
The fashion brand saw its revenue for the period fall by 15 per cent to clock €361,8 million. The results weren’t much different for the first 9 months of the year too.
The first 9 months saw Moncler register revenue of €765.1 million, which is a decline of 23 per cent at current exchange rate and 22 per cent at constant exchange rate – all thanks to pandemic.
Though the impact could be seen in Q3 – resulting in the 15 per cent revenue fall – it is still better than expected.
Elated over Q3 report, Remo Ruffini, CEO and Chairman, Moncler, said that the third quarter results were better than expected.
The CEO added that while Chinese market was witnessing constantly improving growth rates, other markets and distribution channels were also showing continuous growth though in many cases they continue to be negative.
Location wise, Moncler’s revenue in Italy fell by 34 per cent in 9 months and 29 per cent in Q3, while EMEA saw the brand’s revenue go down by 21 per cent in 9 months and 18 per cent in the third quarter.
Lack of travellers has been attributed as the major reason for the fall in both Italy and EMEA region.
In Asia and rest of the world, the decline in 9 months was 18 per cent, while it was down by only 4 per cent in Q3. In Americas, there was 28 per cent revenue fall in 9 months (constant exchange rate) and 13 per cent in Q3.
The improvement in Asia in Q3, reportedly, was owing to the solid performance of the brand in Mainland China and Korea – though the numbers from Japan and Hong Kong SAR haven’t been impressive.
Mostly known for its skiwear, Moncler has 217 directly operated stores and 63 wholesale shop-in-shops as on 30 September 2020.