The Boss Of Down Jacket Brand Moncler Told Reuters Revenue Would Drop By 15%
The boss of luxury down jacket brand moncler told Reuters they are looking to young consumers and the Chinese market to help sales rebound from the coronavirus crisis and are expected to recover from the second half of 2021.
According to analysts' forecasts released by moncler, revenue is expected to fall 15% this year and return to 1.64 billion euros next year, slightly higher than its level in 2019.
Moncler's latest move is the acquisition of Italy's high-end leisure and fashion brand stone Island, which is popular among so-called generation Z shoppers in their 20s. Remo Ruffini, chief executive, said the 1.15bn (US $1.4bn) Stone Island deal would help moncler position itself as "between Hermes and Nike" and attract buyers of high-end luxury goods and street wear.
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