Italy’s Moncler Group’s FY22 revenue soars 27% to €2.6 bn

Luxury fashion company Moncler Group has reported consolidated revenue of €2,602.9 million in fiscal 2022 (FY22), representing a 27 per cent growth (25 per cent at constant exchange rates, cFX) compared to the previous year. The company’s gross margin for FY22 reached €1,987.8 million, equivalent to 76.4 per cent of revenues. In the fourth quarter (Q4) of FY22, the group reached revenue equal to €1,046.3 million, up 19 per cent cFX compared to Q4 FY21.

Moncler Group’s selling expenses accounted for 29.1 per cent of revenues in FY22, and general and administrative expenses accounted for 10.9 per cent of revenues. Earnings before interest and taxes (EBIT) were €774.5 million, a 29.8 per cent margin, up from €603.1 million in FY21.

Moncler brand revenues grew by 19 per cent cFX in FY22, reaching €2,201.8 million. In Q4 FY22, the brand generated revenues of €949.3 million, up 16 per cent cFX compared to the same period in 2021 and up 52 per cent compared to Q4 FY19. Revenues in Asia grew by 14 per cent cFX compared to FY21, with Korea and Japan driving growth. Europe, the Middle East, and Africa (EMEA) revenues increased by 29 per cent cFX, while the Americas registered a 12 per cent cFX growth.

The direct-to-consumer (DTC) channel achieved revenues of €1,772 million, a 22 per cent cFX increase compared to FY21, and a 43 per cent cFX increase compared to 2019. The wholesale channel generated revenues of €429.8 million, a 6 per cent cFX growth compared to FY21 and a 14 per cent cFX growth compared to FY19.

Stone Island brand revenues increased by 28 per cent cFX in 2022, reaching €401.1 million. The EMEA region accounted for the most significant share of the brand’s revenue growth, driven by strong performance in the DTC channel. In the fourth quarter, the brand registered 48 per cent cFX growth in revenues compared to Q4 FY21.

Moncler brand’s network of mono-brand Moncler boutiques included 251 directly operated stores as of December 31, 2022, with nine units added compared to September 30, 2022, and 14 units added compared to December 31, 2021. The brand also operates 63 wholesale shop-in-shops.

As of December 31, 2022, the network of mono-brand Stone Island stores was composed of 72 retail stores and 19 mono-brand wholesale stores.

Looking at 2023, the macroeconomic environment remains complex and characterised by continued uncertainty, but also by many opportunities. Despite the unpredictability of the scenario in which we operate, we face the year with confidence and energy, conscious of our flexible and reactive organisation and of our clear strategic vision whose priority is to continue strengthening our brands, always involving and inspiring new communities, ‘beyond fashion, beyond luxury,’” said Remo Ruffini, chairman and CEO of Moncler SpA.