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    MONC   IT0004965148

MONCLER S.P.A.

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Italy's Moncler to go fur-free in two years

01/25/2022 | 07:13am EDT
The logo of Moncler is seen in a shop in downtown Rome

MILAN (Reuters) - Italian luxury group Moncler said on Tuesday it would ban fur in all its collections starting from 2024, following in the footsteps of other fashion brands keen to meet customers' growing ethical and environmental awareness.

"The company will stop sourcing fur this year and the last collection to feature fur will be Fall/Winter 2023," the company said.

The brand known for its goose down jackets - a by-product of the food industry that Moncler assures it is traced and certified - said the stop on fur is consistent with its ongoing commitment to responsible business practices.

Other brands such as Valentino, Prada, Versace, Gucci and Armani have already announced their plans to end the use of fur in the past years and some have recently added angora wool to their banned materials.

(Reporting by Claudia Cristoferi, editing by Cristina Carlevaro)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MONCLER S.P.A. 0.05% 42.28 Delayed Quote.-33.96%
PRADA S.P.A. -0.89% 44.7 Delayed Quote.-9.62%
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Financials
Sales 2022 2 461 M 2 630 M 2 630 M
Net income 2022 503 M 538 M 538 M
Net cash 2022 671 M 717 M 717 M
P/E ratio 2022 22,6x
Yield 2022 1,73%
Capitalization 11 355 M 12 134 M 12 134 M
EV / Sales 2022 4,34x
EV / Sales 2023 3,79x
Nbr of Employees 5 290
Free-Float 78,6%
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 42,28 €
Average target price 62,66 €
Spread / Average Target 48,2%
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Managers and Directors
Remo Ruffini Chairman & Chief Executive Officer
Roberto Philippe Eggs Executive Director, COO & Chief Marketing Officer
Andrea Bonante Secretary & Head-Compliance
Marco Diego de Benedetti Vice Chairman
Gabriele Galateri di Genola Independent Non-Executive Director
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