Italian luxury outerwear company Moncler announced a better-than-expected 1 per cent rise in first-quarter revenue, primarily due to demand from Asia and direct-to-consumer sales.
The company reported that its revenues for the three months ending in March were US $ 944 million, which was more than analysts had predicted.
Currency fluctuations have no effect on the change, which is the same at both constant and current exchange rates. During that period, Moncler brand sales grew by 2 per cent without any currency impact, with Asia surpassing both Europe and the Americas.
Asia did better than other regions, although revenues at the group’s smaller brand Stone Island fell 5 per cent despite a double-digit increase in direct sales.
The ongoing distributor selection process and the different delivery schedules between the first and second quarters compared to last year had a significant effect on the company’s wholesale operations.
Remo Ruffini, the CEO of Moncler, stated in a statement that the company was able to overcome the difficulties of a very uncertain macroeconomic environment because of its strong operational discipline.
