The Italian fashion house Brunello Cucinelli SpA was able to continue on its successful course in the first months of the 2023 financial year. Sales in the first quarter reached EUR 265.3 million, surpassing the previous year’s level by 34.7 percent, the knitwear specialist announced on Tuesday. Adjusted for exchange rate changes, revenues increased by 32.8 percent.
The engine of growth was therefore the company’s own retail trade with a sales increase of 63.7 percent to 164.0 million euros. In the wholesale business, revenues increased by 4.7 percent to EUR 101.3 million.
All market regions recorded double-digit growth in the first quarter. In Europe, sales grew by 15.8 percent to EUR 95.5 million, in America by 42.9 percent to EUR 95.5 million and in Asia, thanks to a strong upward trend in China, by as much as 56.0 percent to EUR 74.3 million Euro.
Brunello Cucinelli, the fashion house’s executive chairman and creative director, praised the “excellent results” and explained that the collections for the upcoming autumn-winter season had received a “strong positive response”. In light of the recent development, the company confirmed its sales forecasts. Accordingly, it expects an increase of around 15 percent for the current financial year. A growth rate of around ten percent is targeted for 2024.