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Brunello Cucinelli posts first half sales and profit uplift

Brunello Cucinelli has posted a rise in first half sales and profit after being boosted by strong sales growth in all of its markets. In the… View Article

FASHION

Brunello Cucinelli posts first half sales and profit uplift

Brunello Cucinelli has posted a rise in first half sales and profit after being boosted by strong sales growth in all of its markets.

In the six months to 30 June, the luxury Italian fashion brand increased its sales by 28.3% at constant currency to €415.4 million while growing its net profit to €50.6 million from €21.9 million a year earlier.

Meanwhile EBITDA improved by 48.8% to €120 million.

The company said it enjoyed growth in all geographical areas, including the US, Asia and Europe. Sales in its retail channel rose by 47.1% while wholesale sales climbed by 16%.

Brunello Cucinelli (pictured), chairman and creative director of the company, said: “The first half of 2022 closed with excellent results in terms of both growth and profits; on the back of these, we envisage a record year 2022 with revenue growth of around 15%.”

He added: “The order intake for spring summer men’s women’s 2023 was very good, both in terms of quantity and image. All this makes us look forward to a year 2023 with a full 10% growth in sales.”

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