After recording a 46.4% jump in sales in the second quarter of 2022, Italian luxury fashion brand Brunello Cucinelli reveals its forecasts for the rest of the year and also for the following years.
In fact, Brunello Cucinelli has raised the first estimates that the brand, known for its cashmere clothing, had made earlier this year. The previous estimate, which was for a growth of 12%, is now estimated at 15%.
Having reported 20% growth in the first quarter and a 46.4% jump in the second, the group’s sales accelerated in the second quarter. The latter reached 218.3 million euros, 6.3 million euros more than forecast, which was 212 million euros.
“For 2022, we fully confirm our expectations of a complete rebalancing of margins, which should return to “normal” levels before the pandemic, a solid EBITDA margin of 18%, with a cash flow capable of absorbing the significant investments planned, to which we added the acquisition of the 43% stake in the prestigious Lanificio Cariaggi Cashmere in March,” said Cucinelli in its statement.
He then finished by revealing his forecasts for 2023 and 2024. The label expects a growth in sales of about 10% in 2023 and said to expect a turnover of about one billion euros in 2024.
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