Italian fashion group Moncler posted on Wednesday a 16 percent increase in first quarter sales at constant exchange rates, boosted by solid demand in China, a country which has turned into a sore spot for some luxury brands.
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
Global sales for the Moncler brand grew 20 percent year-on-year, despite a decline in the wholesale channel, with a double digit growth across all the regions.
Sales at Stone Island, the brand Moncler bought in 2021, were down 5 percent.
Reporting by Elisa Anzolin, editing by Valentina Za
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Moncler CEO Ruffini Will Hold 16% of Shares After Rivetti Family Invests Directly
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