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- Cartier owner Richemont also reported a 1% drop in quarterly sales.
Cooling down: Moncler said sales over the summer were 3 percent lower than the previous year at £530 million
The Italian maker of padded and ski jackets, which was rumored to be planning a bid for Burberry, has become the latest luxury goods business to be hit by a lack of demand.
Milan-based Moncler, which specializes in jackets but makes everything from skirts and T-shirts to swimsuits and hats, said sales during the summer were 3 percent lower than a year earlier, at $530 million. of pounds sterling.
“Our sector is going through a volatile phase,” said CEO Remo Ruffini.
Cartier owner Richemont also reported a 1 percent drop in quarterly sales, as strong demand in the Americas, Japan and the Middle East was offset by a drop in China.
Moncler is reportedly considering a bid for Burberry, whose shares have fallen about 70 percent from last year’s peak.
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