Italian fashion house Brunello Cucinelli expects record sales after the strong results of the first nine months of the year continued in October and November.
The brand forecasts “wonderful growth” of 28 percent for the current year as demand for luxury products remains strong despite high inflation and general economic uncertainty.
Commenting on the results in a statement, CEO and Creative Director Brunello Cucinelli said: “We have reaped a lot in this year 2022, the year of the complete reorientation of our Casa di Moda, also thanks to the prestigious, creative and manufacturing country to which we have the honor , to be allowed to belong, as well as his welfare state. In the last two years we have not laid anyone off: this has allowed us to maintain our production and commercial structures with full efficiency and has enabled us to meet the needs of the world market, where demand seems to exceed supply. These are the exceptional conditions that allow us to expect a great year-end with an increase in sales of around 28 percent.”
Strong reaction to the SS23 collection
Cucinelli added that “a very important order intake, both quantitatively and qualitatively, for the spring/summer 2023 program” prompts the company to expect sales growth of around 12 percent for the coming year, breaking the 1 billion mark for the first time. would exceed the euro mark.
The company also expects “healthy” earnings next year, but didn’t give any numbers. Looking ahead to 2024, the brand even expects sales to grow by 10 percent.
Brunello Cucinelli announced last month that the company had sales of 642 million euros for the first nine months of the year, an increase of 23.2 percent at constant exchange rates and 27.7 percent at current exchange rates.
The company spoke of “excellent growth” in all sales channels and regions, “with a very high sell-through value for the FW22 collections”. Broken down by geographic region, sales increased 45 percent in the Americas, 22.6 percent in Asia, 21.6 percent in Europe and 10.2 percent in Italy.
This translated article first appeared on FashionUnited.uk.