The Italian fashion house Brunello Cucinelli SpA can look back on a gratifying business year. 2021 was “one of the best years in the company’s history”, the company said in an interim announcement on Monday. According to preliminary figures, sales increased by 30.9 percent compared to the previous year and reached 712.0 million euros. Adjusted for changes in exchange rates, sales grew by as much as 32.4 percent. The knitwear specialist was also able to significantly exceed the level of 2019 (+17.2 percent).
Sales in the company’s own retail business developed particularly dynamically: compared to the previous year, it rose by 56.0 percent to 419.3 million euros. The company had to cope with fewer pandemic-related restrictions than in 2020, but according to its own information it also benefited from newly opened boutiques and a “solid” development on a comparable area. In the wholesale business, sales increased by 6.3 percent to 292.7 million euros.
All market regions contributed to the strong growth: In Italy sales rose by 23.2 percent to 84.2 million euros, in the rest of Europe by 26.5 percent to 219.0 million euros. Revenues in America, at 238.2 million euros, were 36.7 percent above the previous year’s level, in Asia they grew by 32.9 percent to 170.6 million euros. The company said that sales growth there accelerated further in the fourth quarter, in particular due to the results in China.