In 2022, the Moncler Group reached a consolidated revenue of €2,602.9 million, up 25 percent cFX compared to 2021. These results include Moncler brand revenue of €2,201.8 million and Stone Island brand revenue of 401 ,1 million euros.
In the fourth quarter, the group reached €1,046.3 million in revenue, up 19% cFX including Moncler brand revenue of €949.3 million and Stone Island brand revenue of €97 million.
The company’s EBIT reached €774.5 million with a revenue margin of 29.8% compared to €603.13 million in 2021 with a margin of 29.5%. The Group’s net result amounted to 606.7 million euros compared to 411.43 million euros in 2021. The company’s board of directors also approved a proposal to distribute a dividend of 1.12 euros per share.
Commenting on the results, Remo Ruffini, President and CEO of Moncler SpA, said: “Today, I am proud to present excellent results, the value of which is even more significant considering the complex context in which they were achieved. Looking ahead to 2023, the macroeconomic environment remains complex and characterized by continued uncertainty, but also by many opportunities.”
The performance highlights of the Moncler brand
In 2022, Moncler brand revenue increased by 19% cFX compared to 2021, while in the fourth quarter, the brand’s revenue increased by 16% cFX compared to the fourth quarter of 2021 and 52% compared to the fourth quarter of 2019.
In 2022, revenue in Asia including APAC, Japan and Korea was €1,029.3 million, up 14 percent cFX compared to 2021. In the fourth quarter, Asia grew 12 percent cFX versus the fourth quarter 2021 and 56 percent cFX vs. Q4 2019, due to growth in Korea and a good performance in Japan.
EMEA reported revenue of €804.4 million in 2022, up 29 percent cFX compared to 2021, driven by the performance of the DTC channel – both physical and online, while wholesale was impacted by some store conversions and online stores. Revenue in the fourth quarter accelerated 30% over the fourth quarter of 2021 and 52% over the fourth quarter of 2019, driven by strong local demand. Italy, France and Germany contributed the most to quarterly growth.
The Americas recorded revenues of €368.1 million in 2022, up 12% cFX compared to 2021 and 35% cFX compared to 2019. In the fourth quarter the region grew by 5% cFX compared to the last quarter of 2021 and 38 % cFX compared to Q4 2019, driven primarily by the DTC channel.
In 2022, the direct-to-consumer (DTC) channel saw revenues of €1,772 million, up 22% cFX compared to 2021 and 43% cFX compared to 2019. Q4 recorded cFX growth of 18% compared to Q4 2021 and 55% cFX vs. Q4 2019, despite the Covid restrictions implemented in mainland China, mainly in the months of October and November.
Revenue from the wholesale channel was €429.8 million with 6% cFX growth compared to 2021 and 14% cFX compared to 2019. In the fourth quarter revenue generated from this channel was up 1% cFX compared to in Q4 2021 and 21% cFX compared to Q4 2019.
As of December 31, 2022, the Moncler mono-brand boutique network counted 251 direct-operated stores (DOS), up nine units compared to the previous year and 14 units compared to December 31, 2021. The brand has 63 wholesale-in -shops (SiS), compared to 61 as of September 30, 2022, following the opening of Doha and Hainan Sanya airports in the last quarter of the year.
Stone Island brand Q4 and Q22 results
In 2022, the Stone Island brand’s revenue grew by 28 percent cFX and 63 percent cFX compared to 2019. In the fourth quarter the brand recorded a 48 percent cFX increase compared to the fourth quarter of 2021.
EMEA, which is the most important region for the brand with revenues of €278.7 million, grew by 16% cFX in 2022, accelerating by 21% cFX in the fourth quarter compared to the fourth quarter of 2021. Italy, the United Kingdom and France led the region’s growth in the year.
Asia revenue reached €80.2 million, up 101 percent cFX compared to 2021 pro-forma, due to the retail conversion of Korea and Japan, while APAC suffered in the fourth quarter due to the restrictions of Covid- 19 in mainland China.
The Americas recorded revenues of €42.3 million, up 34% cFX compared to pro-forma 2021, with growth driven by the good performance of collections in the wholesale channel. The wholesale channel, which still accounts for the majority of the brand’s revenue, with sales of €252.0 million in 2022, grew by 7 percent cFX compared to 2021 pro-forma.
The DTC channel reported sales of €149.2 million, up 93% cFX compared to pro-forma 2021, driven by the previously reported conversion of Korea and Japan and double-digit performances in EMEA and the Americas. The direct online channel recorded strong double-digit growth.
Stone Island’s network of stores consisted of 72 retail stores and 19 single-brand wholesale stores. In the fourth quarter, Stone Island opened its first DOS in the new format in Chicago.