The Italian luxury goods group Brunello Cucinelli has posted a remarkable performance for the first half of 2024, with a significant increase in sales. This success is attributable to a strategy focused on high-end products and strong demand in Asia and the United States. The Group also confirms its growth ambitions for the coming years.
Italian luxury goods group Brunello Cucinelli has announced a notable increase in sales for the first half of 2024, defying industry slowdown trends thanks to its focus on high-end and a targeted expansion strategy.
Brunello Cucinelli recorded a 14.7% increase in sales at constant exchange rates, reaching 620.7 million euros.
This growth was driven primarily by strong demand in Asia (+14.3%) and the United States (+19. 4%), which accounted for 28% and 36% of total sales respectively. For Brunello Cucinelli, the Group’s Executive Chairman and Creative Director, China, where other luxury brands are suffering, continues to offer “very high potential” as a market for the fashion house. Finally, in Europe, growth was more modest, at 9%.
Second-quarter sales amounted to 312 million euros, well in line with analysts’ expectations.
“The first half-year closed with excellent sales results. We believe that the brand is experiencing very positive momentum in terms of overall image,” said Brunello Cucinelli. “This leads us to confirm the sales growth forecast for 2024 of around 10%, as well as adequate profits.”
Expanding production sites
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Read also>CUCINELLI CONTINUES TO PROSPER IN THE FIRST QUARTER OF 2024
Featured photo : © Brunello Cucinelli
