Moncler: How posh puffer jacket maker is looking to navigate an uncertain world
The UK arm of Moncler, the luxury puffer jacket maker, is targeting a “solid growth trajectory” amid an “uncertain and unpredictable” global macro-economic and geopolitical landscape.
The London-based division of the Italian giant made the comments as it reported static sales for 2023 while its profits dipped.
Moncler’s UK arm trades through its boutiques in London’s Sloane Street and Old Bond Street as well as its concessions in Harrods and Harvey Nichols department stores in Knightsbridge and Selfridges in Oxford Street.
It also has outlet stores at Bicester Village and London Heathrow‘s terminal three.
According to newly-filed accounts with Companies House, the brand’s revenue remained at £75.4m while its pre-tax profit fell from £3.6m to £2.9m.
The company’s UK revenue rose from £69.5m to £70.6m, while its European sales dipped from £5.8m to £4.8m.
A statement signed off by the board said: “In future, Moncler UK aims to further consolidate its position in the market by continuing to invest in its products and brands.”
It added: “Entering 2024, the global macro-economic and geopolitical landscape remains uncertain and unpredictable.
“In response to this volatile environment, the group remains focused on operational flexibility and responsiveness and will keep investing in its organisation and people to further strengthen its operating execution.
“Leveraging its distinctive brands as well as its great talent, the group will continue to navigate through this uncertain landscape and evolving market dynamics aiming to remain on a solid growth trajectory.”
The wider Moncler group, which includes the Stone Island brand, posted a revenue of almost €3bn in 2023, up 15 per cent, while its operating profit rose from €774.5m to €893.8m.
Chief executive officer Remo Ruffini said: “These financial results are more than just numbers: they are a testament to a decade of thinking beyond conventions, a relentless pursuit of product excellence, a consistent customer-centric focus and an unwavering brand-first strategy that continues to guide our group and inspire our people,”