Italy-based apparel manufacturer and lifestyle brand Moncler has announced financial results for its first quarter of this fiscal. During the quarter under review, the fashion retailer noted a 16 per cent rise in its revenue due to increased sales in Europe, particularly in Britain, France and Germany.
According to the company, sales totalled Euros 276.2 million in the reporting period. At constant exchange rates sales rose 15 per cent compared to the same period in 2016. It’s not only Europe, Moncler Asia revenues also noted an increase of 12 per cent in the latest quarter.
Sales in European countries excluding Italy, which represent a third of Moncler’s revenue, were up 22 per cent at current exchange rates to Euros 83 million in the first quarter. 191 directly-owned stores also noted a 20 per cent in the quarter against corresponding period last year.
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“Strong results were partly due to good online sales, which were growing faster than sales in traditional stores. The brand has plans to relocate or enlarge some stores in the third quarter,” said Moncler Chief Corporate Officer Luciano Santel while commenting on the results.
