Export growth boosts Moncler YTD profit
- Net profit up 82% to EUR70.5m nine months to end September
- Revenues up 16% to EUR449.3m
- Strong revenue growth in Americas, Asia
Moncler's revenues were up 16% in the first nine months of the year
Italian luxury fashion group Moncler nearly doubled its net profit for the first nine months of the year, thanks to strong export growth.
The company said revenues rose 18% at constant exchange rates thanks to 36% revenue growth in the Americas, and 35% in Asia, where China, Japan and Korea performed particularly well.
Meanwhile, strong performances in Germany, France and the UK helped the EMEA region to a 14% revenue increase.
Only the home market of Italy lagged behind, with sales down 1%, mainly thanks to Moncler’s “ongoing selective wholesale channel strategy”.
Company chairman and CEO Remo Ruffini said he was “very pleased” with the results, adding: “Despite an uncertain macroeconomic and geopolitical scenario, we have delivered 18% growth in revenues at constant exchange rates and a 19% increase in EBITDA.”
Moncler plans to expand its roster of mono-brand stores, which currently stands at 163, with more to open before the end of the year and 15 sites already secured for 2015 openings.
The company will also take over control of its activities in the Korean market from 1 January, meaning that it will have direct control over all its markets.
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