It’s been a great year for Brunello Cucinelli so far!
Following a 32.4 per cent rise in the Italian luxury brand’s half-yearly sales (€ 415.3million), Brunello Cucinelli has said that it is targeting an annual growth of 15 per cent for 2022.
Besides, it expects the revenue to grow significantly by 10 per cent in 2023 – and going forward the intent is to attain € 1 billion in turnover by 2024.
The brand’s net profit rose by a whopping 131.4 per cent to € 50.6million in the first 6 months that ended 30 June 2022.
The operating profit (EBIT) also more than doubled, growing year-on-year from € 25.3 million to € 57.8 million in the 6-month period.
Region-wise, sales grew by 52.6 per cent in the Americas, 27.2 per cent in Asia and 20.7 per cent in Europe. In Italy, the same rose by 19.9 per cent.
“For 2022, we fully confirm expectations for an absolute re-balancing of margins to pre-pandemic normalcy levels, in line with the results of the first six months of the year,” said Brunello Cucinelli in a statement.
The Italian luxury fashion brand, which was founded in 1978, is known for selling menswear, womenswear and accessories in Europe, North America and East Asia.
