It's not just the controversial episode of Report on Sunday evening that penalizes Moncler's day on the stock exchange. The title of the company that produces the famous duvets lost almost 4% in mid-afternoon, bringing the psychological quota of 10 euros closer to 10,63 euros (reaching 10,5 in the morning) e according to operators, it especially discounts the valuations of Exane Bnp Paribas, indicated in today's note to customers. The French broker maintained the "underperform" recommendation and, estimating a slowdown in sales in the second half of 2014, reduced the target price from 11 to 10,8 euros.
At the moment the value has dropped even beyond the quota indicated by Exane, due to the aftermath of the Report television broadcast aired yesterday evening on Raitre. Milena Gabanelli's program pointed the finger at the production of goose down and, in particular, against the conditions of exploitation that would be reserved for animals in Hungary. Moncler rejected the accusations, underlining that the feather purchased from suppliers "contractually obliged to guarantee compliance with the principles of animal protection". The company also specified that the suppliers it works with are "all based in Italy, France and North America".
"We believe that the program has given the brand negative publicity among Italian customers", is the comment of the analysts of Intermonte Sim, adding that the use of raw materials with animal origin exposes to the risk of awareness by animal rights groups.
