Brunello Cucinelli nine-month revenues surge on growth in all regions
today Nov 7, 2018
Italian heritage fashion house Brunello Cucinelli reported on Tuesday double-digit growth for the first nine months of 2018, with impressive sales increases across all major markets including Asia, the U.S. and Europe.
For the first nine months ended September 30, 2018, Brunello Cucinelli revenues totalled €422.1 million, up 8.3%, compared to €389.9 million, or 10.9% at constant exchange rates.
In its domestic market of Italy, revenues lifted 5.5%, with Europe as a whole gaining 9.7%. North America registered a 3.3% increase and "a high single-digit growth at constant exchange rates," said the brand in statement.
Greater China surged 29.2% and the rest of the world segment just fell short of double-digit growth at 9.5%.
Cucinelli also recorded increases in all distribution channels with retail up 6.8%, wholesale monobrand up 11.2% and wholesale multibrand lifting 9.5%.
Year-to-date, profits also witnessed double-digit growth, according to the Perugia house's founder and CEO, despite official figures not being disclosed.
“2018 is drawing to a close and - to our immense pleasure – further growth was confirmed in terms of both double-digit revenues and profitability, but also and above all in terms of brand positioning and credibility," said Brunello Cucinelli.
The company patriarch also hinted at a strong interest in the brand's summer collections to launch next year, following a "positive" response from its winter line, prompting Cucinelli to predict another big year in 2019.
“The truly very, very positive performance of our winter collections and the appreciation displayed for the next summer ones also in terms of order collection lead us to envisage further double-digit increase in 2019," he added.
Brunello Cucinelli directly operates 100 stores globally, in addition to 27 monobrand wholesale location. Founded in 1978, Brunello Cucinelli is also stocked in some 650 multibrand stores worldwide.
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