In the first quarter of 2017, Moncler recorded revenues of 276.2 million euros (303 million dollars), an increase of 16 percent at current exchange or 15 percent at constant exchange rates compared to revenues of 237.3 million euros (260 million dollars) in the same period of 2016.
In Italy, revenues rose 7 percent, owing to good results in both distribution channels, while in EMEA, revenues grew 26 percent at constant exchange rates, driven by positive performances across main markets, in particular the United Kingdom, France and Germany.
In Asia & Rest of the World, revenues increased 12 percent at constant exchange rates. In Japan both distribution channels recorded very good performances, as a result of particularly strong brand perception in that market. The company also saw solid growth in Mainland China, mainly driven by the performance of the retail channel. Growth was also achieved in Korea, albeit off a smaller base, demonstrating the success of the Moncler-Shinsegae joint-venture.
In the Americas, revenues grew 12 percent at constant exchange rates, supported by performances in both channels. In the United States, retail benefited from important new stores opened, such as the New York Madison Avenue flagship. Canada continues to produce good results, particularly in the wholesale channel.
Revenues from the retail channel were 203.9 million euros (224 million dollars) compared to 170.1 million euros (186 million dollars) in the first quarter of 2016, representing an increase of 18 percent at constant exchange rates. This performance was due to organic growth and the continued development of the network of mono-brand retail stores (DOS).
The wholesale channel recorded revenues of 72.3 million euros (79 million dollars) compared to 67.2 million euros (73 million dollars) in the first quarter of 2016, an increase of 8 percent at constant exchange rates, driven by good results of the spring/summer 2017 collections.
As at March 31, 2017, Moncler’s mono-brand distribution network consisted of 191 retail directly operated stores (DOS), an increase of 1 unit compared to last year and 45 wholesale shop-in-shops (SiS), an increase of 3 units. In the first three months of 2017, Moncler opened its first DOS in Australia, in Melbourne, and has opened one shop-in-shop at the Doha airport (Qatar), one in Dubai (United Arab Emirates) and one in Toronto (Canada).
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