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Brunello Cucinelli’s net sales are up 28% to €914.4 million for the year 2022. The Italian luxury fashion house is also optimistic about fiscal 2023 and 2024.
Brunello Cucinelli’s net revenues for the year 2022 were 914.4 million euros compared to 712.1 million the previous year.
In Europe, the cashmere specialist’s revenues grew 20% to 263.8 million euros from 219.1 million euros in 2021. In Italy, the House posted preliminary 2022 consolidated net revenues of €102.6 million, up 22% from €84.2 million in 2021.
The House’s investments in 2022 reached 73 million euros, plus the acquisition of a 43% stake in Lanificio Cariaggi Cashmere. The cost amounted to 15.1 million euros and was financed entirely with equity, according to a statement from the company listed on the Milan Stock Exchange.
“In 2023, the significant orders in the portfolio for spring-summer 2023, both in terms of quantity and quality, and the excellent start to the fall-winter 2023 sales campaign contribute to our expectations of an interesting year,” the Italian company said in a statement. “The men’s collection will be presented to the press these days at Pitti, and the women’s collection during the February fashion week in Milan” .
For this new year, Brunello Cucinelli expects a growth of about 12%, to reach the target of one billion euros in sales. The group added: “In 2024, we consider a revenue growth of 10% reasonable, and we finally believe we can achieve the doubling of revenues well ahead of the initial planning of the 10-year plan started in 2019, which envisaged reaching this goal in 2028.”
The company added that a buyback plan would be launched, involving some 47,250 Brunello Cucinelli common shares, for a maximum amount of about 3.6 million euros. On Monday, it closed up 2.1% at 71.50 euros per share.
Read also >Interparfums raises its 2022 financial forecast
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Brunello Cucinelli’s net sales are up 28% to €914.4 million for the year 2022. The Italian luxury fashion house is also optimistic about fiscal 2023 and 2024.
Brunello Cucinelli’s net revenues for the year 2022 were 914.4 million euros compared to 712.1 million the previous year.
In Europe, the cashmere specialist’s revenues grew 20% to 263.8 million euros from 219.1 million euros in 2021. In Italy, the House posted preliminary 2022 consolidated net revenues of €102.6 million, up 22% from €84.2 million in 2021.
The House’s investments in 2022 reached 73 million euros, plus the acquisition of a 43% stake in Lanificio Cariaggi Cashmere. The cost amounted to 15.1 million euros and was financed entirely with equity, according to a statement from the company listed on the Milan Stock Exchange.
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Brunello Cucinelli’s net sales are up 28% to €914.4 million for the year 2022. The Italian luxury fashion house is also optimistic about fiscal 2023 and 2024.
Brunello Cucinelli’s net revenues for the year 2022 were 914.4 million euros compared to 712.1 million the previous year.
In Europe, the cashmere specialist’s revenues grew 20% to 263.8 million euros from 219.1 million euros in 2021. In Italy, the House posted preliminary 2022 consolidated net revenues of €102.6 million, up 22% from €84.2 million in 2021.
The House’s investments in 2022 reached 73 million euros, plus the acquisition of a 43% stake in Lanificio Cariaggi Cashmere. The cost amounted to 15.1 million euros and was financed entirely with equity, according to a statement from the company listed on the Milan Stock Exchange.
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