MILAN (Reuters) -First quarter sales at Italian fashion group Moncler jumped by 23% at constant exchange rates, beating analysts’ expectations, boosted by Chinese demand and solid growth in the EMEA region.
Overall revenues for the three months ending in March totalled 726.4 million euros ($799 million), above a company-provided analysts’ consensus of 689 million euros.
Sales at the main Moncler brand rose 32% in Asia versus the same quarter a year ago, while in the Americas they were up 9%. In EMEA revenues rose 29%, driven by both local demand and tourist purchases, especially from Americans and Koreans.
The group added it appointed Robert Triefus as Chief Executive Officer of its Stone Island brand to “lead the second phase of development, dedicated to the strategic evolution of the brand and the growth of its international relevance.”
Global quarterly sales for the Moncler brand grew by 28% to 604.8 million euros in the quarter, while Stone Island’s sales were up 5% to 121.6 million euros.
Both brands reported double-digit growth in the retail segment.
($1 = 0.9090 euros)
(Reporting by Elisa Anzolin, editing by Alvise Armellini and Chris Reese)