The Italian fashion house Brunello Cucinelli SpA was able to report an extremely successful 2022 financial year on Wednesday. In view of the persistently high demand, the knitwear specialist also raised its sales forecast for 2023 again.
The company had already announced in January that sales had grown by 29.1 percent (currency-adjusted +24.8 percent) to EUR 919.5 million last year. Now it could also report a massive profit increase. Accordingly, the operating result amounted to 134.4 million euros and exceeded the previous year’s level by 74.5 percent. Total net income grew by 54.9 percent to EUR 87.2 million, while net income attributable to shareholders increased by 51.2 percent to reach EUR 80.6 million.
According to the clothing supplier, the 2023 financial year started with “excellent results”. According to Brunello Cucinelli, the winter season ended with “positive” results and the spring-summer season started “very promisingly”.
As a result of this development, the company is now anticipating “very strong” growth in the first quarter and has set itself higher targets for the financial year as a whole: an increase in sales of 15 percent is now forecast, after the target had previously been 12 percent. For 2024, the fashion house is aiming for an increase of ten percent.