The Italian fashion house Brunello Cucinelli SpA once again exceeded its own expectations in the first half of the 2023 financial year. In view of the unexpected momentum in recent months, the knitwear specialist raised its sales forecast for the full year on Thursday.
According to preliminary figures, the company generated sales of EUR 543.9 million in the period from January to June, which corresponds to an increase of 31.0 percent compared to the same period of the previous year. Adjusted for exchange rate changes, revenues grew by 30.5 percent.
Brunello Cucinelli was able to make strong gains in all market regions. The plus was particularly high in Asia: there, half-year sales of EUR 152.2 million exceeded the corresponding figure for the previous year by 55.6 percent. In Europe, sales grew by 22.9 percent to 202.7 million euros, in America by 23.9 percent to 189.0 million euros.
Brunello Cucinell, the company’s executive chairman and creative director, praised the “more than excellent results” in the first half of the year. In view of the latest developments, management is “very confident” about the coming months. Accordingly, the fashion house also raised its annual forecast: for 2023, it now expects sales to increase by 17 to 19 percent, after previously expecting growth of 15 percent.