Brunello Cucinelli's growth driven by retail channel in first half of 2019
Jul 15, 2019
Brunello Cucinelli is maintaining its momentum. The Italian luxury label has announced sales of 291.4 million euros in the first half of 2019 (January to June), reflecting an 8.1% increase compared to the same period in the previous year, or 7.2% in constant currencies. This growth is largely in line with that reported in the brand's first quarter.
The company's domestic market, which represents 15.2% of its total sales, registered a slight increase of 1.1% in its revenues, which totalled 44.3 million euros. Europe, which accounts for 31.7% of Brunello Cucinelli's sales, saw more impressive growth of 9.6% in sales totalling 92.4 million euros.
The brand's other international markets also achieved solid improvements. North America, for example, reported a 9% increase in sales of 94.1 million euros (32.3% of the company total), while Greater China's revenues shot up 15.9% to 28.8 million euros (9.9% of the company total). The rest of the world finished the first six months of the year with 31.9 million euros in sales, up 5.5% from the prior-year period to represent 10.9% of Brunello Cucinelli's total.
Breaking the brand's results down by distribution channel, sales in the company's retail channel – represented by 102 company-owned stores – jumped 12% to 150 million euros, representing 51.5% of the company total. Progress at the 28 monobrand Bruno Cucinelli stores managed by partners was more contained, up 1.5% in constant currencies (6.2% of the company total). Finally, sales in the company's multibrand wholesale channel rose 6.5% to 123.3 million euros, accounting for 42.3% of total revenues.
"The sales of our Spring Summer collections were especially good, and the start to the 2019 Fall Winter season was also very very positive. All this augurs well for another year of delightful growth," commented company chairman and CEO Brunello Cucinelli in a release. "Honestly speaking, we cannot but express our full satisfaction with the clearly positive drive that has marked the start of the order intake for the Spring Summer 2020 Men and Kids collections that were presented last month."
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