Sales at Italy's Moncler up 16% in first quarter boosted by China
Reuters
Published Apr 24, 2024 17:00
MILAN (Reuters) - Italian fashion group Moncler posted on Wednesday a 16% increase in first quarter sales at constant exchange rates, boosted by solid demand in China, a country which has turned into a sore spot for some luxury brands.
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
Global sales for the Moncler brand grew 20% year-on-year, despite a decline in the wholesale channel, with a double digit growth across all the regions.
Sales at Stone Island, the brand Moncler bought in 2021, were down 5%. ($1 = 0.9355 euros)
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Written By: Reuters
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