Luxury fashion brand Moncler presented its latest celebrity collaborations on Saturday at a grand event held in downtown Shanghai, signaling its strong performance despite a challenging global luxury market. The “City of Genius” event took place in an old shipyard, featuring a series of pavilions dedicated to each of this year’s Moncler Genius collaborators. Over 8,000 guests were in attendance, with the spotlight on high-profile creators such as A$AP Rocky, Edward Enninful, Willow Smith, and Rick Owens. Each collaborator put their unique spin on Moncler’s iconic down jackets, showcasing the collections in creative ways—from runway shows to elaborate garden settings and even a go-kart racetrack.
Launched in 2018, Moncler Genius is an initiative where creators from fashion, music, and the arts collaborate with Moncler to produce limited-edition collections. The Shanghai event continues the tradition of celebrating cross-disciplinary creativity, bringing together global talent to breathe new life into the brand’s offerings.
The event comes at a time when the luxury industry faces challenges, particularly due to a slowing Chinese economy and decreased consumer spending. Major luxury brands, such as LVMH, recently reported a dip in sales, raising concerns about the sector’s growth potential. However, Moncler has outperformed its competitors this year, with an 11% revenue increase in the first half of 2024. The brand has also seen double-digit growth among Chinese consumers, both domestically and abroad, highlighting China’s importance to the brand’s success.
Moncler’s CEO, Remo Ruffini, spoke optimistically about the Chinese market at a press conference before the event. He acknowledged the volatility in the luxury sector but expressed confidence in the future growth of the Chinese market. “China is a very good market,” Ruffini said. “I’m sure in five years, China will be much bigger than it is today.”
Last month, Ruffini strengthened his control over Moncler after finalizing a deal with LVMH, allowing his investment vehicle, Double R, to increase its stake in the brand from 15.8% to 18.5% over the next 18 months. This strategic move demonstrates Ruffini’s commitment to Moncler’s long-term growth and his confidence in navigating the uncertainties of the luxury market.
As Moncler continues to captivate consumers with its bold collaborations and innovative designs, the brand remains a standout in the luxury sector, particularly in China, where it continues to thrive amid global headwinds.
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