Many companies around the world closed last year with negative final balance sheets, recording tragic losses due to the pandemic and the economic crisis. The current health, economic and social situation has created great uncertainty for 2021.
However, some companies have managed to “survive” achieving positive results. One of these is Moncler S.p.A., a historic Italian clothing company, which has been able to limit the damage caused by Covid-19. Moncler performed better than expected and in fact the revenues for the year 2020 fell “only” by 11% (1,440.4 million euros), considering that, according to the data, the average decreases in turnover of the fashion industry are around 20%. In the second half of the year, the turnover of the company reached 675.3 million euros (+8% at constant exchange rates, +7% at current exchange rates). Net profit for 2020 reached 300.4 million euros, 16% less, and the company’s board of directors is planning to propose a 2021 dividend of 0.45 euros per share, a total of 113.7 million euros.
“2020 will remain fixed in our history, and I think, even more in Moncler’s history. By summarizing the many thoughts, emotions and actions of these months could be an understatement, and I love looking forward to the future. But I think it is important to dwell on the crucial moments, those in which we act with courage when the scenario becomes unpredictable. This is precisely the energy that has guided us in recent months and, in particular, in the important last weeks of 2020″, said Remo Ruffini, owner and CEO of Moncler S.p.A.. “In November, after a few months of enthusiasm and hopes, we experienced, once again, the uncertainty of rising contagion data, lockdowns, and the impossibility of planning. This led us to react and today we are talking about the results that I consider exceptional”, he then concluded.
How did the Italian company record a recovery in its turnover in such a difficult time? First of all, the growth of the online business has played a key role, moreover the strong expansion of the Chinese market and the growth of Japan and Korea have contributed to Moncler’s economic recovery. In addition, with the agreement signed between the company and Sportswear Company S.p.A., which owns the Stone Island brand, “the Moncler group becomes stronger in the growing segment of new luxury, which is community, experience, influence”.
“The last months of 2020 will remain in the history of Moncler also because, in such a difficult moment for Italy and for the world, we announced the partnership with Stone Island. A union that I wanted and looked for, which became possible thanks to the shared vision of two entrepreneurs, Carlo Rivetti and I, with the same ideals, the same passion, the same love for our companies”, said Ruffini about the news of the new collaboration.