Brunello Cuccinelli, the Italian luxury brand known for its cashmere clothing, reported a 29.1 percent increase in its revenue at current exchange rates, which is slightly more than market expectations and the company’s forecasting.
In 2023, Brunello Cucinelli’s income is expected to reach € 1 billion. The business anticipates revenue growth of about 12 percent in 2023 and turning a good profit.
The company estimates that revenue growth of 10 percent in 2024 is reasonable, and it believes that it can double revenues far sooner than anticipated under the original timeline of the 10-year plan, which started in 2019 and envisioned achieving this objective in 2028.
“The considerable orders in the portfolio of Spring/Summer 2023 collection and the extraordinary start of the Fall/Winter 2023 sales campaign lead us to envisage an excellent year, with a forecast for a fine growth of around 12 percent and consequently the achievement of a relevant goal, namely € 1 billion in turnover,” said Brunello Cucinelli, Executive Chairman and Creative Director of Casa di Moda.
