Brunello Cucinelli records strong revenue growth

For the first nine months, Brunello Cucinelli reported a turnover of 920 million euros, growth of 12.4 percent at current and 12.7 percent at fixed exchange rates.

In the third quarter, turnover of 300 million euros increased by 9.2 percent.

Commenting on the strong results, Brunello Cucinelli, the company’s executive chairman and creative director said: “The outstanding results from the first nine months of the year, the excellent sales of the fall-winter 2024 collections, and our ongoing commitment to garments of the highest craftsmanship allow us to confidently maintain our revenue growth forecast of approximately 10 percent for 2024.”

Brunello Cucinelli posts growth across markets

The company’s revenues in Europe of 340.3 million euros, increased by 8 percent, Americas revenues of 334.7 million euros, were up 17.6 percent, and Asia turnover of 245.2 million euros, was up 12.2 percent compared to the nine months of 2023.

The group achieved positive results across China, Japan, South Korea and the Middle East.

Brunello Cucinelli’s reported retail channel revenues of 578.7 million euros, up 13.3 percent for the first nine months, and wholesale channel revenues of 341.5 million euros, were up 11 percent on last year

Brunello Cucinelli forecasts 10 percent revenue increase for 2024

Commenting on the outlook, the company said that it confirms forecasted growth of approximately 10 percent in 2024, with healthy and balanced profit backed by interesting results for the first nine months of the year and strong sales of the fall-winter 2024 collections.

The company added that driven by the excellent health of the brand, the exclusivity of the presence in the market and the growth potential in all geographical areas and distribution channels Cucinelli estimates growth for 2025 and 2026 of around 10 percent, and doubling turnover of 2023 by 2030.