Moncler’s margins fall, along with Cavalli’ sales, while Valextra flies

Moncler, Roberto Cavalli and Valextra represent the three faces of luxury. The first two are united by the difficulty of preserving margins, strained by investment and spending in order to push sales. So much so that Moncler is seeing its margins fall, while Cavalli’s sales are declining. The third, however, is changing the face of…