Italy’s Moncler posts 17% surge in revenue in FY23

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Moncler, a leading Italian luxury fashion brand, has reported consolidated group revenues of €2.98 billion in fiscal 2023 (FY23), marking a significant 17 per cent increase at constant exchange rates (cFX) over the previous year’s €2.6 billion. This growth also reflected at current exchange rates with a 15 per cent increase.

The group’s EBIT for FY23 stood at €893.8 million, up from €774.5 million in FY22, with the EBIT margin improving to 30.0 per cent from 29.8. The net result also saw an increase to €611.9 million, compared with €606.7 million in FY22, the company said in a press release.

Moncler reported a 17 per cent revenue increase in FY23 to €2.98 billion, with EBIT rising to €893.8 million.
Growth was driven by a 19 per cent increase in Moncler’s revenues and strong performance in Asia, up 30 per cent at constant exchange rates.
Q4 continued the momentum, with significant gains across regions, despite a slight decline in the Americas.

Breaking down the revenue streams, Moncler’s revenues alone soared to €2.57 billion, a 19 per cent increase cFX (17 per cent at current exchange rates) from €2.201.8 billion in the previous year, supported by a robust full year comparable store sales growth (CSSG) of 19 per cent. Stone Island contributed with revenues of €411.1 million, up 4 per cent cFX (2 per cent at current exchange rates) from €401.1 million in FY22.

Geographically, Asia, including APAC, Japan, and Korea, led the revenue charts with €1.291.4 billion, a 30 per cent increase cFX over FY22. The EMEA region also showed strong performance with revenues of €910.5 million, a 14 per cent increase cFX. However, revenues in the Americas saw a slight decline by 1 per cent cFX to €371.3 million.

The fourth quarter of FY23 particularly highlighted the brand’s continued growth momentum, with group revenues reaching €1.177.9 billion, up 16 per cent cFX compared with the same period in FY22. This quarter saw substantial growth in Asia with revenues up by 28 per cent cFX year-on-year, and a positive uptick in the EMEA region with a 7 per cent increase cFX year-on-year. The Americas also rebounded with a 3 per cent increase cFX in the quarter.

“The operating environment remains complex and unpredictable. We will continue to navigate through these uncertainties remaining vigilant while leveraging on our agility and reactivity. At the same time, we will continue to invest in our organisation, in our brands and in the exceptional talent within our group, with a long-term oriented mindset and always pushing for higher peaks,” said Remo Ruffini, chairman and chief executive officer of Moncler.

Fibre2Fashion News Desk (DP)




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