Brunello Cucinelli signs a fine 2023

The Italian cashmere king reported a 24% rise in sales, while net income jumped 42%.

Brunello Cucinelli unveils yet more good news.

The Italian cashmere specialist achieved earnings before interest and taxes (EBIT) of 187.4 million euros ($204.1 million) in 2023, up 39.4% and broadly in line with analysts’ forecasts based on a consensus provided by LSEG. Its margin reached 16.4%, compared with 14.6% in 2022.

Net income rose by 42% to 123.8 million euros, with an impact on sales of 10.9% versus 9.5% in 2022.

Last January, the Italian cashmere specialist had already announced good preliminary results for 2023, with sales expected to grow by 22% to 23% at current exchange rates to 1.1 billion euros.

Dynamic markets everywhere

As confirmed on March 14, Brunello Cucinelli did even better, with sales up +24% (+26.0% at constant exchange rates) to 1.14 billion euros.



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Read also > LEVI STRAUSS SUES BRUNELLO CUCINELLI FOR COUNTERFEITING

Featured Photo: © Cucinelli

Picture of Sophie Michentef
Sophie Michentef
Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.

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