Fashion brand Brunello Cucinelli has reported a turnover of US $ 1000.55 million for the first time in 9 months. The growth is 12.4 per cent at current exchange rates and 12.7 per cent at fixed exchange rates. The company also recorded a turnover of US $ 326.26 million in its third quarter which is an increase of 9.2 per cent.
“We can safely retain our revenue growth prediction of roughly 10 per cent for 2024 because to the exceptional results from the first nine months of the year, the strong sales of the fall-winter 2024 collections, and our continued dedication to producing clothing of the finest quality,” said the executive chairman and creative director of Brunello Cucinelli.
The designer brand witnessed revenue growth across its markets including revenues of US $ 370.09 million in Europe, revenues of US $ 364 million in America and turnover of US $ 266.67 million in the Asian markets. The company achieved desirable results across the countries of China, Japan, South Korea and the Middle East as well.
Brunello Cucinelli reported retail channel revenues of US $ 629.37 million, reflecting a 13.3 per cent increase in the first nine months, while wholesale channel revenues reached US $ 371.4 million, marking an 11 per cent rise compared to last year.
In view of the current revenue growth and positive market responses, the company has forecasted they would be recording a growth of approximately 10 per cent in 2024. The firm also estimated growth for 2025 and 2026 of around 10 per cent, and doubling turnover of 2023 by 2030.