“We aren’t buying and we remain independent”. Moncler defies the luxury slowdown with a super fourth quarter (including in China). The group, which will raise prices this year, exceeded 3 billion euro in annual sales for the first time. The group’s positive performance helped bring its liquidity to more than 1.3 billion euro, which could be used for new acquisitions. But its Chief Corporate & Supply Officer Luciano Santel, said, “We don’t have an M&A strategy, and we want to stay very focused on two big brands; we see huge potential to develop them fully”.
+7% from the year before
The strategies that are working, or at least that’s what the numbers say. Moncler stated consolidated revenue increased 7% over 2023, to 3.1 billion euros, exceeding analysts’ expectations. Group net income grew 5% to 639.6 million euros. At brand level, Moncler’s sales rose 8% to 2.7 billion euros, while Stone Island’s sales fell 1% to 401.6 million euros. In the fourth quarter alone, Moncler grew by 8% and Stone Island by 10%. “Moncler’s fourth-quarter retail brand figures were well above the most optimistic scenario, reflecting solid new product offerings, astute marketing campaigns and large-scale regional improvements, with Asia probably being the biggest surprise”, commented Thomas Chauvet, Citi analyst.
Moncler also grows in China
“Are we growing in China? We are one of the few luxury outerwear brands, perhaps the only one, and we are number one, there is no real competitor”, said Roberto Eggs, Group Chief Business Strategy and Global Market Officer of the company. Looking ahead to 2025, Ruffini said “we are confident in our ability to navigate the changing market dynamics. These results are more than numbers, they are about the pursuit of creativity and uniqueness, never settling for the ordinary”. The group, writes Vogue Business, plans to raise prices (single-digit increment) due to inflationary pressures on production.
“We remain independent”
But there is also the other side of the coin, with the group possibly being acquired. Commenting on the deal with LVMH signed in September 2024, Moncler Group CEO Remo Ruffini said the move “allows us to become stronger and adds stability. It’s very important to emphasize that we remain completely independent”. Ruffini doesn’t expect possible synergies with the French group, which “is not involved in any strategy”, reports WWD.
Images from Moncler
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