Cucinelli continues to prosper in the first quarter of 2024

Cucinelli, the Italian cashmere specialist, once again posted strong growth at the start of the year, with double-digit rates in all its markets. The atypical model of this independent, family-run group, founded in 1978 by Brunello Cucinelli as “an illustration of humane capitalism”, is proving to be an enduring success.


Brunello Cucinelli , the eponymous Italian founder and executive chairman of the group, is a UFO in the luxury sector. And in more ways than one.


At a time when luxury groups are starting to stick out their tongues in an inflationary world marked by the slowdown of the Chinese market, his family-run group continues to prosper.


While maintaining its independent line, it also continues to distinguish itself by its capitalism with a human face, sharing its success with its employees.


The “king of Italian cashmere”, which has expanded its offer to include high-end, “quiet luxury” fashions, once again posted excellent growth (+16.5% at current exchange rates) in the first quarter of 2024. Sales reached 309 million euros ($328.81 million).


Lvmh and Kering jealous?


In other good news, Brunello Cucinelli said in a statement that “the abundant accumulation of orders for the autumn-winter 2024 collections” led “to reiterate” expectations “for the full 2024 financial year with renewed conviction: that of sales growth in the order of 10% and a healthy and fair profit“.


Enough to make Lvmh jealous , whose sales grew by just 3% in the first quarter of 2024, and above all, Kering, which warned to expect a decline in sales of “the order of 10%” during the first three months of the year.

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Featured Photo: © Brunello 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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