Moncler Shares Surge on Strong Q4 Revenue Growth and Robust China Demand

Moncler shares jumped on Friday after the Italian luxury fashion house reported stronger-than-expected fourth-quarter revenue, driven by solid demand in Asia and the Americas. The luxury brand posted a 7% increase in revenue at constant exchange rates for the quarter ended in December, outperforming market expectations and boosting investor confidence.

Organic net sales reached €1.291 billion in the fourth quarter, exceeding the €1.215 billion consensus forecast compiled by Visible Alpha and cited by Morgan Stanley. The better-than-anticipated performance highlights Moncler’s resilience in a challenging global luxury market environment.

For the full year, like-for-like sales declined by 1%, a smaller drop than the 2.5% decrease analysts had projected. Investors closely monitor this metric as it reflects underlying business performance. According to Morgan Stanley analysts, management expressed optimism about the start of the new fiscal year, citing strong visibility on consumer trends in China, one of the most important markets for global luxury brands.

Moncler delivered double-digit growth among Chinese consumers worldwide for the third consecutive year. Executives pointed to opportunities linked to the repatriation of luxury spending in China, as well as shifting consumption patterns from Japan to destinations such as Hainan and Hong Kong. These trends are expected to further support revenue growth in 2024.

In the United States, Moncler recorded high-single-digit sales growth, supported by resilient domestic demand despite broader economic uncertainty. While annual operating profit edged slightly lower to €913.4 million, second-half income margins exceeded consensus estimates, largely due to the strong revenue performance.

The earnings report follows leadership changes at the company. Chairman Remo Ruffini announced he will step down as CEO, with Bartolomeo Rongone, currently leading Bottega Veneta, set to succeed him. Ruffini will remain executive chairman, continuing to oversee Moncler’s creative vision and long-term strategy.