Report
Jean Danjou

Moncler : Momentum still strong for the Moncler brand driven by Asia: simple catch-up or a sustainable trend?

>Growth of the Moncler brand should remain close to 15% in Q1, well above the industry average - No change of tone from the company at this stage. The management had indicated at the annual results publication that in the wake of the remarkable +17% organic growth in Q4, the brand was still enjoying favourable growth at the start of the year with Asia showing strong growth and Europe benefiting from tourism (notably Chinese tourists) and this was confirmed. In fact, d...
Underlying
Moncler SpA

Moncler is a jacket and sportswear production group based in Italy. Co. directly produces and distributes its own clothing and accessories collections, through its direct boutiques and exclusive department and multibrand stores. Co. branded products range from the high fashion segment with the Gamme Rouge and Gamme Bleu collections (exclusive products and selected distribution to boutiques) to the Grenoble collection (sporting and technical garments). As of Dec 31 2013, Co. operated a network of 135 stores, including 107 directly operated stores (DOS) and 28 wholesale stores (27 shop-in-shop and 1 franchise store).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jean Danjou

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