Brunello Cucinelli reports better than expected results for 2021

Italian fashion brand Cucinelli has reported better-than-expected results for the year 2021, despite a volatile and fluctuating environment due to the global Covid-19 pandemic.

 

Cucinelli is forecasting a 31% increase in sales in 2021, at current exchange rates, after the Covid-19 pandemic caused a 10% decline in sales in 2020.

 

According to Refinitiv SmartEstimate, analysts had forecast sales of €703 billion in 2021. Far from the reality, total net sales amounted to €712 billion, an increase in sales of 19% compared to 2019, the year before the arrival of the global pandemic.

 

Following its 2021 earnings announcement, the brand is aiming for “nice, healthy and balanced growth of around 10%” for the current year and 2023, despite the Covid-19 epidemic rebounding worldwide.

 

 

Read also > ACCORDING TO THE FINANCIAL TIMES, LVMH IS THE BIG WINNER OF THE COVID-19 CRISIS

 

Featured photos : © Brunello Cucinelli

Tags

The editorial team
The editorial team
Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Launch offer:

Your participation in the Camille Fournet Masterclass reserved for annual subscriber !

Luxus Plus Newsletter