Moncler UK sales benefit from new central London flagship
The British arm of luxury outerwear brand Moncler said the opening of a three-storey 3,550 sq ft flagship store on Old Bond Street helped lift sales by 44% to £35.2 million in the year to 31 December 2016.
The company opened the boutique, designed by Gilles & Boissier architects, in London’s Knightsbridge in May 2016. The store joined another retail store on Sloane Street, an outlet in Bicester Village and three concessions within Harrods, Harvey Nichols and Selfridges.
The move also helped the company consolidate its position in the UK market and gain a wider recognition amongst its consumers, said Moncler in its latest accounts.
The store trades alongside other high-end labels including Tiffany & Co, Salvatore Ferragamo, Max Mara, Rolex, Prada, Saint Laurent and DKNY.
The strong trading in the second quarter of the year had also a good impact on the company's operating profit for the year, rising from £3.2 million in 2015 to £4.1 million. Gross profit margin jumped from 48% to 51%.
For 2017, Moncler said its plans included an expansion of its Old Bond Street store, the relocation of its Bicester Village store to bigger premises and the opening of an expanded concession within Harrods.
Copyright © 2022 FashionNetwork.com All rights reserved.