17 bOaRD OF DIREcTORS REPORT16 MONCLER GROUP 2022bOaRD OF DIREcTORS REPORT
Dear shareholders, 2022 was another year characterized by complex and unpredictable dynamics. The conflict in Ukraine, inflation, the energy crisis and the pandemic not yet fully resolved contributed to an extremely un- stable and uncertain macroeconomic and geopolitical situation.
Moncler Group s sales exceeded 2.6 billion euros during the year, up 25% on 2021 at constant exchange rates, and net profit was over 600 million euros. The Moncler and Stone Island brands reported record sales of 2.2 billion euros and 400 million euros, respectively.
The value of these results is even more noteworthy in light of the complicated environment in which they were achieved.
It was also a year of strong emotions. The one of the 70th anniversary of Moncler and the 40th anniversary of Stone Island, during which we celebrated the journey of these two extraordinary brands. but above all we started planning for tomorrow, because we know that past success must always inspire new ambitions.
at Moncler, after a 70-day programme of iconic activations and experiences around the world, we started working on strength- ening all the three dimensions of the brand: Collection, Genius and Grenoble, and we are developing the footwear segment with prod- ucts with a strong, recognizable identity.
Stone Island is continuing the excellent work that will enable it to express its full potential. In order to achieve a more custom- er-centric business model, during the year we internalised the man- agement of several markets and integrated logistics into a single Group hub. an innovative store concept was also launched in chi- cago a significant step in the development of the store network.
Sustainability continued to be a key pillar of our strategy. In 2022 the Group was once again ranked first in our sector in the Dow Jones Sustainability Indices, for the fourth consecutive year. However, we are not stopping here: we have set increasingly more challenging goals and we continue to work hard to pursue our me- dium- to long-term targets.
In early 2023 the macroeconomic context remains complex, and characterized by continued uncertainty and unpredictability. In light of this, we will keep working to maintain a flexible and reac- tive organisation, leveraging our unique brands and our clear stra- tegic vision.
I would like to conclude thanking all our stakeholders for the constant support, starting with our shareholders, a valuable source of support and advice, our board of Directors, an essential body for each single strategic decision, and all our employees, who each day are with me in this extraordinary journey, which for sure will lead to several further achievements and emotions.
Thank you.
REMO RUFFINI cHaIRMaN aND cEO
cHaIRMaN S LETTER