Italian luxury fashion brand Brunello Cucinelli has just published its first-half results. The brand’s results are more than positive, with exceptional performances.
Bright prospects for Brunello Cucinelli. On Tuesday August 29, the Italian luxury brand reported a 31% increase in sales to 543.9 million euros for the first half of the year. Operating performance also improved, with a 51.8% rise in operating income to 57.8 million euros, and a 31.9% increase in net income to 66.7 million euros.
At the same time, capital expenditure fell from €36.61 million to €34.9 million, while financial debt was reduced from €63.8 million to €38.6 million.
“After eight months of this very interesting year, and given the excellent start to the sales campaign for the autumn-winter collections, we are looking forward to a pleasant end to the year, with sales up by around 19% and profits that we can describe as very appreciable,” said Brunello Cucinelli, the label’s Executive Chairman and Creative Director.
“This makes us very confident of achieving our growth outlook of around 10% for next year,” he added. Mr. Cucinelli also noted that “the spring/summer 2024 men’s and women’s commissioned collection is coming to a close with excellent results and a great appreciation for the sober, tasteful looks [of the collections], a true expression of the ‘quiet luxury’ that is much appreciated at the moment.”
The company’s growth is most significant in Asia; sales there account for between a third and a quarter of consolidated sales.
Investments that pay off
Those paying close attention will have noticed the recent advertising campaign run by the group based in the village of Solomeo, perched high in the Umbrian hills. So it’s hardly surprising that the communications budget has risen by 78% compared with the first half of the previous year.
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Featured photo : ©Brunello Cucinelli
