Moncler SpA
MIL:MONC

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Moncler SpA
MIL:MONC
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Price: 58.04 EUR 0.69% Market Closed
Market Cap: 15.9B EUR

Moncler SpA
Investor Relations

Moncler SpA, renowned for its luxurious and high-performance outerwear, found its origins nestled in the mountainous terrains of Grenoble, France, in 1952. However, it was in the early 2000s when the brand underwent a metamorphosis under the leadership of Remo Ruffini, who artfully pivoted its perception from utilitarian alpine gear to a high-fashion juggernaut. With a strategy anchored in exclusivity and innovation, Moncler deftly navigates the world of luxury fashion by managing a distinct balance between heritage and modernity. It achieves this through its 'Genius' project, where it engages with multiple designers, injecting fresh creativity each season while keeping its iconic style intact. This approach allows Moncler to remain relevant in the ever-shifting winds of fashion, catering to both its traditional clientele and modern fashion enthusiasts.

Moncler makes its money by focusing on direct-to-consumer sales through its own retail network, complemented by a curated selection of wholesale partnerships. This strategy not only ensures control over the brand image and customer experience but also maximizes profitability. In addition to traditional retail, Moncler has been increasingly investing in digital endeavors, recognizing the growing importance of connecting with consumers online. Its financial vitality is fortified by its ability to command premium pricing, a testament to its perceived value and desirability among consumers. By combining its high-grade products with strategic marketing and selective distribution, Moncler has carved out a lucrative niche, thriving at the intersection of functionality and luxury.

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Last Earnings Call
Fiscal Period
Q4 2023
Call Date
Feb 28, 2024
AI Summary
Q4 2023

Record Results: Moncler Group reported almost €3 billion in revenue and a record EBIT of €894 million with a 30% margin for 2023, along with net cash surpassing €1 billion for the first time.

Moncler Brand Growth: The Moncler brand achieved €2.573 billion in revenue, up 19% year-on-year, with Q4 growth accelerating to 17%; Direct-to-Consumer (DTC) channels drove this momentum.

Stone Island Update: Stone Island posted record revenues of €411 million, up 4% versus 2022, with strong DTC performance but ongoing pressure in wholesale and Americas.

Strong Asia Performance: Asia, especially the Chinese cluster, saw robust growth, up 28% in Q4 for Moncler, and Chinese consumer activity remains strong even after Chinese New Year.

DTC Expansion: DTC channels now represent 84% of Moncler sales, with comparable store growth of 19% in 2023; wholesale is being reduced and made more selective.

Margin Strength: Gross margin reached 77.1%, driven by DTC expansion; management expects further margin improvement in 2024 as DTC grows.

Positive Start to 2024: Management reported a solid and happy start to the year across all regions and brands, though comps are getting tougher.

Brand Initiatives: New marketing, collaborations (including with Luxottica), and focused brand strategies are underway for both Moncler and Stone Island.

Key Financials
Revenue
€2.998B
EBIT
€894M
Net Cash
€1.034B
Moncler Brand Revenue
€2.573B
Stone Island Revenue
€411M
Gross Margin
77.1%
EBIT Margin
30%
Net Profit Margin
20.5%
DTC Share of Moncler Sales
84%
Comparable Store Growth (Moncler)
19%
Wholesale Revenue (Moncler)
€409M
Stone Island DTC Revenue
€173M
Stone Island Wholesale Revenue
€238M
Net CapEx
€174M
Dividend per Share
€1.15
Earnings Call Recording
Other Earnings Calls

Management

Mr. Remo Ruffini
Chairman & CEO
No Bio Available
Mr. Luciano Santel
Executive Director and Chief Corporate & Supply Officer
No Bio Available
Mr. Roberto Eggs
Chief Business Strategy & Global Market Officer and Executive Director
No Bio Available
Ms. Elena Mariani
Director of Strategic Planning & Investor Relations
No Bio Available
Mina Piccinini
Chief Corporate Strategy & Communications Officer
No Bio Available
Mr. Gino Fisanotti
Chief Brand Officer
No Bio Available
Stella King
Chief Chinese Business Officer
No Bio Available
Mr. Andrea Tieghi
Senior Director of Retail & Business Development
No Bio Available

Contacts

Address
PADOVA
Trebaseleghe
Via Venezia, 1
Contacts
+390499323111.0
www.monclergroup.com