Chinese powering Moncler sales growth
Asia has proven to be the core driver of Moncler sales growth year to date.
The edgy Italian fashion house which specialises in outdoor wear reported a 23 per cent increase in global sales this week in the nine months to September 30, measured in constant currency.
But Asia and the ‘rest of world’ (which excludes Europe and the Americas) significantly outperformed the brand’s core markets, with sales up 39 per cent.
And Chinese shoppers – who now account for about one-third of the world’s luxury goods market – are behind the trend, spending up at large in the brand’s new Hong Kong shops and on the mainland.
“Chinese demand has been very strong in the third quarter, totally in line with the first half,” Moncler COO Luciano Santel said during an analyst conference call after the figures were released.
Trading during the Golden Week holiday in early October was better than last year, signalling the growth trend will continue, said Moncler CEO Remo Ruffini: “The fourth quarter has just started, but we continued to see very positive signs in all our markets,” he said.
Global sales topped €872.7 million euros for the nine months.