MILAN (Reuters) -Italian luxurious group Moncler mentioned on Thursday it will open or refurbish 200 shops within the subsequent three years and lift on-line gross sales for its eponymous model recognized for its puffer jackets to 25% of whole revenues.

The group, which in 2020 acquired streetwear model Stone Island, additionally plans to additional diversify its providing away from winter clothes, with spring-summer collections accounting for as much as one third of revenues in 2025, and footwear reaching 10% of gross sales, it mentioned in slides forward of an investor presentation.

At present about 75% of revenues come from outerwear, in line with Barclays (LON:) analysts, who cited knitwear as one other diversification possibility for the model.

By 2025, Moncler expects greater than 50% of progress to come back from China and america, the group mentioned.

On-line gross sales stood at 15% of whole on the finish of 2020, up from 10% in 2019, earlier than the coronavirus pandemic.

Moncler, which on Wednesday reported a 60% leap in first-quarter gross sales, has like most rivals seen revenues increase in Europe and america as COVID-19 restrictions eased.

However it faces a setback in the important thing Chinese language market the place a strict lockdown has been imposed within the luxurious hub of Shanghai and different cities since March.

On Wednesday it mentioned round 30% of its foremost model’s shops in China had been at present closed due to the restrictions, up from 10% in March.

Simply over a 3rd of Moncler’s retail gross sales got here from China final 12 months however the model is much less uncovered than rivals to dangers of a protracted shutdown because the second quarter is seasonally much less essential for its annual earnings, analysts say.

In its presentation, the group mentioned it deliberate 10-14 new openings within the Asia Pacific area, together with a flagship retailer in Beijing, including it will create a China enterprise unit at its headquarters and reinforce its organisation within the nation.