Now the brand is turning from target to buyer. As one of the luxury sector's most profitable companies - with EBIT margins rivalling those of French titan Hermes - Moncler has significant firepower to pursue such deals even as its sales slump.

"We had to update our software," explained Chairman and Chief Executive Remo Ruffini, speaking at The Business of Fashion's VOICES 2020 summit Wednesday. "We're going to move to a super energetic country like China. I didn't want to skip the physical event," he Moncler Outlet continued. "We'll still have people there but with a different approach. It's going to be more like a studio broadcasting the event to the world, not just a fashion show."

In the first quarter of 2021, Moncler recorded revenues of 365.5 million euros, an increase of 21 percent at constant exchange and of 18 percent at current exchange rates. Compared to the first three months of 2019, consolidated results registered a 2 percent decline at constant www.monclersoutlets.com exchange rates.

Luxury puffer jacket maker Moncler posted on Thursday a strong increase in first quarter sales, a touch under those in the first quarter of 2019 - before the pandemic - boosted by a strong growth in Asia and solid signs of recovery in North America.

The brand's success has sparked rumours that it could be an acquisition target. In December, reports surfaced of possible discussions between Moncler and French luxury group Kering. At the time, executives with both brands said that while the two companies often talk, no deal was in the works.