For the Luxury Briefing, Glossy looked at the different second-quarter performances of Moncler and Ermenegildo Zegna Group. Moncler was held back by weaker tourism and delayed winter purchases, while Zegna benefited from strong DTC growth, high-spending clients and momentum in the U.S. Additionally, new Traackr data shows paid creator-marketing value for U.S. luxury fashion brands fell by more than half in June. For tips or comments, email me at zofia@glossy.co.Moncler and Ermenegildo Zegna Group reported very different second-quarter results this week.
Moncler Group revenue increased 5% at constant exchange rates in the second quarter. But revenue at its core Moncler brand rose just 3%, below analysts’ expectations. Sales fell 8% in Europe, the Middle East and Africa, compared to growth of 12% in Asia and 4% in the Americas.
“The quarter has been good — not great, but good,” Luciano Santel, Moncler Group’s chief corporate and supply officer, said during the company’s earnings call. “April and May were both very good months. June [was] softer, much softer, due to an evident and clear decline in traffic in all the different regions.”
Europe was affected by lower spending from Chinese, Korean and American tourists, as well as weaker demand from local consumers. Some of that spending appears to have moved back to shoppers’ home markets, helping Moncler’s performance in Asia and the U.S.
