Moncler's visionary CEO, Remo Ruffini, is steering the luxury brand towards a transformative path, particularly emphasizing the burgeoning US market and an experiential approach to high-end fashion. The recent Moncler Grenoble runway presentation in Aspen, Colorado, served as a powerful testament to this strategy, blending the rugged charm of the American West with sophisticated skiwear. This event, coupled with the opening of a dedicated Moncler Grenoble store in Aspen, signals a calculated investment in direct consumer engagement and a belief in the enduring appeal of quality and unique experiences in the luxury sector.
Ruffini's affinity for Aspen's distinctive ambiance is evident. He noted the 'cowboy approach' of the local clientele, a sentiment that foreshadowed the fashion show's creative direction. The collection, showcased amidst the stunning Rocky Mountains at the secluded T-Lazy-7 Ranch, was a fusion of Western aesthetics and high-performance ski apparel. Models displayed puffer coats, ski suits, and mountain boots, adorned with elements like fringe, bandanas, shearling, and plaid, while celebrities and fashion insiders were transported to the remote venue by snowmobile, enjoying a unique and immersive brand experience. This event not only unveiled the latest Grenoble collection but also highlighted Moncler's dedication to creating memorable moments for its discerning clientele.
Aspen holds particular significance for Ruffini, chosen as the location for the second global store exclusively featuring the Moncler Grenoble line. This marks Moncler's second outpost in the ski resort, the first having opened in 2008 as the brand's inaugural US store. This strategic decision underscores Moncler Group's increased investment in the skiwear segment, which has shown robust performance, especially in the US market. While global sales remained steady, US sales demonstrated a commendable 5% increase in the third quarter, surpassing other regions and overall group figures. Further solidifying its US presence, Moncler is also set to open a new flagship store on Fifth Avenue in New York this year.
Ruffini acknowledges that while Moncler enjoys strong recognition in Europe, its presence in the US still offers considerable growth potential. He emphasizes a patient, step-by-step approach to building a deeper connection with American consumers, focusing on educating them about the brand's heritage, collections, and core values. This strategy involves expanding its retail footprint, with plans to open 30 to 35 stores across the US. Ruffini believes direct retail channels are crucial for understanding customer preferences and refining clienteling strategies, especially given the current challenges in the wholesale market. He also highlights Moncler's commitment to maintaining product value by avoiding discounting, attributing this to the timelessness and durability of their designs. Austin is identified as another key US city for future expansion.
The CEO remains undeterred by potential economic or political uncertainties in the US, stressing the importance of aligning product quality with price rather than inflating costs. Meanwhile, the Grenoble line itself is pursuing global ambitions. The ski fashion market is experiencing a boom, with Moncler at the forefront, offering technical yet stylish gear for the slopes. The latest collection features innovative materials like technical denim, tweed, jacquard, and intricate floral embroidery, rigorously tested by athletes like Norwegian-Brazilian skier Lucas Bratton. The new Aspen store consolidates these performance pieces, along with accessories and apparel for both on and off the mountain, within a uniquely redesigned bank building, making a bold statement in the local retail landscape.
Ruffini attributes the growing popularity of skiwear to a broader shift in consumer priorities within the luxury sector. Clients are increasingly valuing experiences and well-being over material possessions. This insight fuels Moncler's focus on creating exceptional brand experiences, from curated fashion shows to high-quality hospitality. The brand recognizes that elements like fine dining and personalized service are integral to its clients' lifestyles, making them essential components of the luxury experience it provides. This experiential approach, combined with an unwavering commitment to quality, positions Moncler for continued success.
Looking ahead, Moncler's annual ski show may venture to new international destinations such as Naseko in Japan, with an eye on expanding into markets like China, Canada, and Finland. This forward-looking vision comes as Ruffini transitions from CEO to executive chairman on April 1, with Bartolomeo Rangone stepping into the CEO role. The bar set by the recent Grenoble events, described by attendees as some of the most high-end brand trips they had experienced, underscores the powerful legacy Ruffini leaves for his successor. His focus on immersive experiences and direct consumer relationships has become a cornerstone of Moncler's strategy, demonstrating a deep understanding of evolving luxury consumption patterns.