Italian luxury outerwear maker Moncler SA said its revenue reached 1.9 billion euros for the nine months ending March 31, 2024, while growth slowed in the fourth quarter compared with the same period a year earlier.
The company posted revenue of 1.9 billion euros, up from 1.6 billion euros in the corresponding period of 2023, according to its latest earnings release. However, quarterly revenue rose only 2.5% year‑on‑year, down from a 12% increase in the third quarter.
Chief Executive Remo Ruffini described the market environment as “complex” and reaffirmed Moncler’s long‑term outlook. He said the brand continues to focus on premium positioning and expanding its digital and wholesale channels despite the slower pace.
Quarterly performance
In the fourth quarter, Moncler’s revenue growth decelerated to 2.5% from 12% in the prior quarter. The slowdown reflects weaker demand in some key regions and increased competition in the luxury segment.
Operating profit for the nine‑month period rose to 425 million euros, while net profit reached 306 million euros, up from 260 million euros a year earlier.
Strategic outlook
Ruffini emphasized that Moncler remains committed to its long‑term vision of sustainable growth, investing in product innovation and geographic expansion. He noted that the company is continuing to develop its e‑commerce platform and strengthen relationships with high‑end retailers.
The firm expects the second half of 2024 to benefit from new collections and a seasonal uptick in demand, though it cautioned that macro‑economic uncertainties could affect performance.
Why it matters: Moncler’s revenue figures highlight the resilience of the luxury apparel market in Europe and the Middle East, regions where high‑income consumers remain a key driver of sales. The company’s strategic focus on digital channels and premium branding may influence how other luxury brands approach growth in these markets.
Egypt
Saudi Arabia
UAE
Spain
United Kingdom
United States
China
India