Brunello Cucinelli: H1 sales up 14.7 percent, confirms growth targets

Preliminary turnover for the first half period at Brunello Cucinelli of 620.7 million euros, rose 14.1 percent at current exchange and 14.7 percent at constant exchange rates.

The company said in a statement that the sales results enabled it to achieve revenues of 312 million euros in the second quarter.

Commenting on the first half performance, Brunello Cucinelli, executive chairman and creative director of the company said: “The first half of the year closed reporting excellent results in terms of turnover, and given the quality of sales, we expect the same in profits. This leads us to confirm our 2024 projected sales growth of around 10 percent, as well as adequate profits.”

“As the men’s spring summer 2025 sales campaign is almost over and the women’s has started, given the orders in our portfolio and the excellent Spring Summer 2024 sell-outs, we envisage for 2025 a healthy growth of around 10 percent,” Cucinelli added.

Brunello Cucinelli posts sales growth across core markets

The company’s revenues in Europe of 221.1 million euros, were up 9 percent with all markets in Europe showing very solid demand for top-end luxury, with a constant presence of local and tourists, both American and Asian.

The Americas revenues of 225.6 million euros, rose 19.4 percent, accounting for 36.4 percent. Sales in Asia of 174 million euros, were up 14.3 percent, accounting for 28 percent. The company witnessed solid results in all areas, including China, Japan, South Korea and the Middle East.

Retail channel revenues of 395.2 million euros, increased 14.7 percent with the number of retail boutiques on June 30, 2024 at 126. Wholesale channel revenues of 225.5 million euros, up 13.1 percent.

Brunello Cucinelli forecasts 10 percent growth for 2024

After the very good sales in the first half of the year, order intake and initial sell-outs for fall-winter 2024, the company forecasts sales growth of around 10 percent and sustainable profit.

The company’s growth plans for 2025 include aiming for an increase in turnover of approximately 10 percent. Finally, as part of the long-term growth plans, the company expects turnover to double by 2030.

The company’s board also appointed Camilla Cucinelli and Carolina Cucinelli as vice-presidents.

The company’s board has also co-opted Katia Riva as the new non-executive director, to replace the independent non-executive director Emanuela Bonadiman who resigned on June 13, 2024. Riva will serve as a member of the control and risk committee and of the remuneration and appointments committee. Chiara Dorigotti was also appointed as chair of the remuneration and appointments committee.