Moncler says 2022 sales forecast doable despite China snag

MILAN – Italian luxury group Moncler is confident it can meet analyst expectations that sales will reach 2.4 billion euros ($2.53 billion) this year despite a new round of lockdowns impacting sales in China, its chief corporate and supply officer said on Thursday.

Luciano Santel told reporters the Chinese shutdowns that began in March in some cities were the biggest concern, but added that if the situation was resolved in the second quarter – which is seasonally less important for the group – “they would not produce big damages.”

($1 = 0.9481 euros)