The Moncler Group on Wednesday revealed its half-year earnings for 2023, reporting revenues exceeding €1 billion EUR for the first time in its history.
The parent company, which houses both Moncler and Stone Island, tallied €1.13 billion EUR in revenues in the first six months of this year, marking a 24% increase when compared to the same period in 2022. In the second quarter, the Moncler Group’s revenues reached €410.2 million EUR, securing an increase of 26% from last year’s figures, with currencies adjusted. From the figure, Moncler raked in €330.2 million EUR, while Stone Island earned €80 million EUR.
In a statement, chairman and CEO Remo Ruffini said the achievement is a “testament to the great teamwork, innovative thinking, and customer-centric approach that defines our group. At Moncler, we are driving a new level of engagement with our customers all around the globe, leveraging all the dimensions of the brand. At Stone Island, we have just started the second chapter of the evolution of this unique brand under the leadership of the newly appointed CEO.”
In the first half of 2023, the group’s net profit was €145.4 million EUR, down from €211.3 million EUR during the same period last year. The latter figure, however, included a tax benefit of €92.3 million EUR, due to Stone Island’s brand tax value realignment. The company reported an operating profit of €217.8 million EUR, up from last year’s €180.2 million EUR.
See the Moncler Group’s full half-year report here.
In more fashion news, PUMA reported increased Q2 sales, ahead of its Fenty collaboration relaunch.