The Italian fashion house Brunello Cucinelli SpA increased its sales sharply in the first nine months of the 2023 financial year and raised its forecast for the full year once again on Thursday.
In the months January to September, the knitwear specialist achieved sales of 818.4 million euros, which corresponded to an increase of 27.5 percent compared to the same period last year. Adjusted for exchange rate changes, revenue increased by 28.8 percent.
Double-digit growth in all market regions contributed to the clear increase. In Europe, sales rose by 20.2 percent to 315.1 million euros, in America by 21.7 percent to 284.7 million euros and in Asia by 49.7 percent to 218.6 million euros.
In view of the continued positive development, the group management felt compelled to once again raise its sales forecast for the current year. It now expects growth of 20 to 22 percent compared to the previous year, after only an increase of 19 percent was previously expected. Management also expects a strong increase in profits. For 2024 and 2025, the company is targeting annual sales growth in the region of ten percent.