September 19, 2018 / 7:26 PM / a month ago

Moncler Q3 "going well", says CEO at Milan Fashion Week

MILAN, Sept 19 (Reuters) - Moncler’s third quarter of the year is “going well” and the company’s new monthly collection strategy dubbed “Genius” is performing above expectations, the CEO and Chairman of the luxury outerwear group said on Wednesday.

“Despite the heat, the third quarter is going well,” Remo Ruffini said on the sidelines of the group’s event on the first day of Milan’s Fashion Week.

The group sells high-end puffer jackets which can cost up to $1,000.

The group in July said that 2018 consensus figures were very challenging due to the “tough” comparison with the second half of last year.

Ruffini added that the first collections of the so-called “Genius” strategy had been above expectations, both in terms of sales of the clothes and of the appeal they had with old and new customers.

“Returns have been satisfying and this makes me optimistic (about the future), there is still a lot of potential,” he said.

With its “Genius” strategy the group, which has transformed casual skiwear into trendy items, has shifted to monthly product launches by world famous designers, away from the traditional model of two annual collections.

Reporting by Giulia Segreti; editing by David Evans

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