Brunello Cucinelli hails excellent year
Brunello Cucinelli enjoyed a record breaking year in 2022 with sales rising by 29.1% at current exchange rates to €919.5 million.
The Italian luxury brand saw revenue growth in all geographical areas, with sales in the Americas rising by 40.5% and Europe and Asia achieving respective increases of 20.8% and 28.1%.
While sales in retail channels rose by 36.6% to €573.3 million, the wholesale channel saw an uplift of 18.4%
During the year, the company acquired a 43% stake in its longstanding supplier, Lanificio Cariaggi Cashmere.
Looking ahead to the outcome of the current year, the company said it expects revenue growth of around 12%, which means it would reach a milestone of €1 billion in sales.
Brunello Cucinelli (pictured), executive chairman and creative director of business, said: “2022 was undoubtedly our breakthrough year, because we achieved a turnover growth of 29% and at the same time the brand image was strongly consolidated worldwide. The good quality of sales also makes us envisage an excellent economic result.
“The considerable orders in the portfolio of the Spring-Summer 2023 collection and the extraordinary start of the Fall-Winter 2023 sales campaign lead us to envisage an excellent year, with a forecast for a fine growth of around 12% and consequently the achievement of a relevant goal, namely €1 billion in turnover. “
