The luxury outerwear brand’s net income grew by 23% last year to €606,697,000 ($638.0 mm) from €411,367,000 on 27% revenue growth to €2,602,890,000 ($2,737.0 mm) against €2,046,103,000, helped by a full year of Stone Island ownership. Both Moncler and Stone Island had a strong year, with the former up 21% to €2,201.8 million and the latter growing 29% on a pro forma basis to €401.1 million. MONC’s cushy gross margin contracted 20 basis points to 76.4% of revenues. Selling and marketing expenses increased in-line with the revenue gains, while general and ... Log in to view full article.