May 4, 2018 / 2:27 PM / in a year

Sales in China and Hong Kong push Moncler Q1 revenue up 20 pct

MILAN, May 4 (Reuters) - Italian luxury outerwear maker Moncler said on Friday its revenue was up 20 percent in the first quarter of the year, lifted by sales in Asia, mainly China and Hong Kong.

Moncler said revenues came in at 332 million euros ($396 million), slightly above a Thomson Reuters estimate of 315.5 million euros. At constant exchange rates sales rose 28 percent compared to the same period in 2017.

In Asia, first quarter sales rose 27 percent at current exchange rates, with China’s mainland and Hong Kong largely outperforming the growth of the region, a statement said.

The group added it had 205 directly operated stores around the world at the end of March, with a net increase of two boutiques with respect to the end of last year. ($1 = 0.8375 euros) (Reporting by Giulia Segreti; editing by Francesca Landini)

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