The Italian fashion house Brunello Cucinelli SpA closed the 2024 financial year with unexpectedly strong sales growth. This emerges from preliminary figures that the knitwear specialist published on Monday.
Accordingly, sales reached 1.28 billion euros last year and exceeded the 2023 level by 12.2 percent (+12.4 percent adjusted for currency effects).
The company was therefore able to slightly exceed its most recent sales forecast, which was only raised in mid-December. This had promised an increase of eleven to twelve percent compared to the previous year. According to the available figures, revenue in the fourth quarter grew by 11.6 percent to 358 million euros.
In America, revenues rise by almost 18 percent
For the entire financial year, sales in the company’s own retail business rose by 14.0 percent to 851.2 million euros and in the wholesale business by 8.8 percent to 427.2 million euros. All market regions contributed to the significant increase. In Europe, revenue increased by 6.6 percent to 456.5 million euros, in America by 17.8 percent to 476.5 million euros and in Asia by 12.6 percent to 345.4 million euros.
In view of the current order figures, the company continues to expect a sales increase of ten percent for 2025. A corresponding increase is also expected for 2026. The goal remains to double the sales level from 2023 to 2030.
The fashion house also announced further investments. The plan is to double capacity at the company headquarters in Solomeo and open new production facilities in the Italian towns of Penne and Gubbio.