Italian Luxury Fashion Company Moncler Exceeds Analyst Expectations in First Quarter with Revenue of 818 Million Euros, Driven by Strong Demand in China, a Market Where Some Competitors Struggle to Attract and Retain Customers. Analysts had expected quarterly revenues of 789.5 million euros according to consensus estimates by Visible Alpha. Revenue rose by 16% at constant exchange rates compared to the previous year.

The Moncler brand in particular contributed significantly to sales growth, contributing almost 705 million euros to total sales, while Stone Island brand revenue amounted to 113 million euros. In Asia, Moncler's sales grew by 26%, driven by very solid demand in mainland China. Tourists and locals in Japan and South Korea also contributed to the good results.

Compared to some of its rivals, such as LVMH Moët Hennessy Louis Vuitton and Gucci owner Kering, which reported weak sales in China in the first quarter, Moncler is showing diverging trends. Despite economic challenges in China, which was the world's largest luxury market before the pandemic, smaller luxury goods companies like Moncler and Brunello Cucinelli have been able to reverse this trend. Brunello Cucinelli reported last week that sales in Asia have risen by 16%, with growth in all key markets, including China.

Moncler Records Growth in All Regions. In America, Sales Increased by 14% at Constant Exchange Rates, While in Europe, the Middle East and Africa They Rose by 15%, Supported by Tourist Purchases and Strong Local Demand.

CEO Remo Ruffini expressed satisfaction with the results of the first quarter and showed great confidence in the strong potential of the brands. However, he also emphasized the volatile macroeconomic environment and the normalization trends in the industry, which require a cautious and reactive approach in view of these ongoing uncertainties.