Moncler Group reported third-quarter revenues of €636 million ($687 million), falling 3 percent year-on-year at constant exchange.
The slip was largely attributed to a decrease in wholesale, as well as macroeconomic troubles and low consumer confidence globally, which are finally catching up to the Italian outerwear maker. In a rocky year for luxury firms, Moncler was one of few companies to keep growing in the first half, increasing its sales by 15 percent.
Sales at the Moncler brand fell 3 percent year-on-year, in line with the group.
Stone Island’s sales fell by 4 percent, broadly in line with the first two quarters as the label works to retool its distribution. DTC sales rose 28 percent year-on-year at the brand, but were not enough to fully offset declining wholesale revenues.
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Economic headwinds, high prices and a lack of novel design are all weighing on what was previously fashion’s most dynamic segment. How severe is the slowdown and how long will it last?
