MILAN (Reuters) – Italian fashion group Moncler’s sales jumped 23% in the first quarter, beating analysts’ expectations, boosted by Chinese demand and solid growth in the EMEA (Europe, Middle East, Africa) region. .
Group revenue for the three months ending March was 726.4 million euros, beating analyst consensus provided by the company of 689 million euros, Moncler said. .
Sales of the Moncler brand increased by 32% in Asia compared to the same quarter of the previous year, while they rose by 9% in the Americas. In the EMEA region, sales increased by 29%, driven by local demand and purchases by tourists, particularly Americans and Koreans.
Overall quarterly sales for the Moncler brand rose 28% to 604.8 million euros during the quarter, while Stone Island sales increased 5% to 121.6 million euros.
The group added that it had appointed Robert Triefus as managing director of its Stone Island brand to “lead the second phase of development, dedicated to the strategic evolution of the brand and increasing its international relevance”.
(Report Elisa Anzolin, Nathan Vifflin, edited by Jean-Stéphane Brosse)
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