by In 2022, the Moncler Group achieved consolidated revenues of €2,602.9 million, an increase of 25% compared to 2021. These results include Moncler brand revenues of €2,201.8 million and Stone Island brand revenues of €401 .1 million euros.
In the fourth quarter, the group generated revenues of €1,046.3 million, up 19 percent in cFX, including Moncler brand revenues of €949.3 million and Stone Island brand revenues of €97 million.
The company’s EBIT reached EUR 774.5 million with a revenue margin of 29.8 percent. compared to EUR 603.13 million in 2021 with a margin of 29.5 percent. The Group’s net result increased to EUR 606.7 million compared to EUR 411.43 million in 2021. The company’s Management Board also approved a proposed dividend payment of EUR 1.12 per share.
Commenting on the results, Remo Ruffini, President and CEO of Moncler SpA, said: “Today I am proud to present excellent results, which are all the more valuable given 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 most important achievements of the Moncler brand
In 2022, Moncler brand revenue increased by 19 percent compared to 2021, while in the fourth quarter brand revenue increased by 16 percent compared to the fourth quarter of 2021 and 52 percent compared to the fourth quarter of 2019.
In 2022, revenue in Asia, including the APAC region, Japan and Korea, amounted to €1,029.3 million, up 14% compared to 2021. In the fourth quarter, Asia posted a 12% increase compared to 2021 Q4 2021 and 56% over Q4 2019 thanks to acceleration in Korea and solid performance in Japan.
The EMEA region recorded revenues of €804.4 million in 2022, an increase of 29% compared to 2021, driven by DTC channel performance – both physical and online, while wholesale was impacted by conversions of some stores in stores and e-sellers. Fourth quarter revenue accelerated 30 percent compared to Q4 2021 and 52 percent compared to Q4 2019, driven by strong local demand. The biggest contributors to the quarterly increase were Italy, France and Germany.
The Americas posted revenue of €368.1 million in 2022, up 12% cFX over 2021 and 35% cFX over 2019. In the fourth quarter, the region posted 5% cFX growth over with the last quarter of 2021 and 38% cFX compared to the fourth quarter of 2019, driven mainly by the DTC channel.
In 2022, the direct-to-consumer (DTC) channel generated revenues of €1,772 million, an increase of 22% cFX compared to 2021 and 43% cFX compared to 2019. The fourth quarter saw an 18- percentage increase in cFX over Q4 2021 and 55% cFX over Q4 2019, despite Covid restrictions introduced in mainland China, mainly in the months of October and November.
The wholesale channel revenue amounted to EUR 429.8 million, with cFX growth of 6% compared to 2021 and 14% compared to 2021. cFX compared to 2019. In the fourth quarter, revenues generated by this channel increased by 1%. cFX compared to Q4 2021
As at December 31, 2022, Moncler’s monobrand boutique network had 251 direct-operated (DOS) stores, an increase of 9 compared to the previous year and 14 more 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 results in 4Q and 2022
In 2022, Stone Island brand revenue grew 28 percent cFX and 63 percent cFX compared to 2019. In the fourth quarter, the brand recorded a 48 percent increase in cFX compared to the fourth quarter of 2021.
EMEA, the brand’s most important region generating €278.7 million in revenue, posted 16% cFX growth in 2022, accelerating 21% cFX in Q4 compared to Q4 2021. Italy, UK and France led growth in the region for the year.
Asia generated revenues of €80.2 million, up 101% over 2021 pro-forma, driven by Korea and Japan’s transition to retail, while the APAC region was hit hard in the fourth quarter by Covid-19 restrictions 19 in mainland China.
Americans reported revenues of €42.3 million, up 34 percent from 2021 pro-forma, with growth driven by strong collection performance in the wholesale channel. The wholesale channel, which still accounts for the bulk of the brand’s revenue, with sales of €252.0 million in 2022, grew cFX 7 percent compared to 2021 pro-forma.
The DTC channel recorded sales of €149.2 million, up 93 percent in cFX compared to pro-forma 2021, driven by the already mentioned conversion in Korea and Japan and double-digit results in EMEA and the Americas. The direct internet channel recorded strong, double-digit growth.
The Stone Island chain of monobrand stores consisted of 72 retail stores and 19 monobrand wholesalers. In the fourth quarter, Stone Island opened its first DOS in the new format in Chicago.
