The chairman and chief executive officer of Moncler SpA on Tuesday expressed his excitement at introducing a conference call with analysts as “the first time we include Stone Island.” The Italian brand, which Moncler took over in December, was consolidated in April, and Ruffini said he was “happy with the things done to set the pillars to grow Stone Island,” commenting on the group’s performance in the first six months of the year.
Ruffini acknowledged a “still very challenging environment” but noted that July “started very well, after a further acceleration in the second quarter” of the year. The entrepreneur touted a “solid cash position, and we look into the future and the uncertain sanitary reality we have to coexist with, but we are ready, relying on two brands, product, ideas, flexibility and people to make it happen.
The Stone Island brand posted sales of 56.2 million euros in the second quarter of 2021, showing a solid performance in all markets and channels. The company said that, if Stone Island had been consolidated since Jan. 1 this year, revenues in the first half would have been 709.9 million euros. In the first half, the group’s operating profit amounted to 92.8 million euros, or 15 percent of revenues, compared with an operating loss of 35.5 million euros in the first half of 2020.
In the EMEA area, sales in the first half grew 9 percent to 187.7 million euros, representing 33.2 percent of the total, while they were down 20 percent at constant exchange rates compared with the first half of 2019, with an improvement in the second quarter also thanks to the loosening of restrictions put in place to contain the pandemic. Specifically, in the second quarter, the U.K. and Germany significantly outperformed the regional average.
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