February 26, 2018 / 5:02 PM / a year ago

Italy's Moncler sees further growth this year after 15 percent rise in 2017 sales

FILE PHOTO: The logo of Moncler is seen in a shop in downtown Rome, Italy February 10, 2016. REUTERS/Tony Gentile/File Photo

MILAN (Reuters) - Italian luxury outerwear maker Moncler (MONC.MI) said on Monday it foresaw further growth in 2018, after posting a 15 percent rise in revenue last year and launching a new product strategy based on faster-paced collections.

The group said last week it was changing its product strategy, bidding farewell to catwalk shows in favour of monthly product launches, in a bid to keep up with the industry’s younger and more fickle customers.

Revenue last year rose to 1.194 billion euros (1.05 billion pounds), just above a Thomson Reuters estimate of 1.183 billion euros. Sales were up 17 percent at constant exchange rates.

Moncler, which sells signature puffer jackets for as much as 1,000 euros ($1,230) proposed to pay a dividend of 0.28 euros per share on 2017 results, up from the 0.18 euros per share paid the previous year.

“...We have decided to start a new exciting and challenging chapter for our business, which I strongly believe, will drive us to new heights with greater determination,” Chairman and Chief Executive Remo Ruffini said in a statement.

The group will be holding a capital markets day on Tuesday.

Reporting by Giulia Segreti, editing by David Evans

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