Brunello Cucinelli nine months revenues increase by 8.8 percent
By Prachi Singh
8 Nov 2019
Net revenues at Brunello Cucinelli, for the first nine months of 2019 totalled 459.2 million euros (507 million dollars), a rise of 8.8 percent at current exchange and 7.7 percent at constant exchange rates compared to last year.
Commenting on the preliminary update, Brunello Cucinelli, the company’s Chairman and CEO, said in a statement: “We have nearly reached the end of 2019, an excellent year for our business in terms of both results and image. The fall/winter sell-out rate was very good, and our brand seems to be enjoying much appreciation. Based on these results, we can already envisage the year closing with a good revenue growth of around 9 percent coupled with a healthy profitability rise”.
Highlights of Brunello Cucinelli’s performance
Italian market revenues at 76.1 million euros (84 million dollars) increased 2.2 percent, while European market posted a growth of 9.6 percent, with sales of 139.5 million euros (154 million dollars). Sales in the North American market increased 9.2 percent, with revenues of 148.2 million euros (163.7 million dollars). Sales in China grew 14.4 percent, with sales of 43.5 million dollars, while Rest of the World revenues increased 11.3 percent to 51.9 million euros (57.3 million dollars).
Sales of retail monobrand channel increased 11.2 percent to 229.2 million euros (253 million dollars). The company said, first nine months of 2019 posted a positive like-for-like trend, supported by the solid sell-outs of the spring/summer and fall/winter collections. There were 103 boutiques in the network at September 30, 2019, compared to 100 in the same month end last year, with three openings taking place during the year.
Wholesale monobrand channel sale grew by 3.2 percent, with revenues reaching 25 million euros (27.6 million dollars). The network consisted of 29 boutiques at September 30, 2019 compared to 27 last year. Wholesale multibrand channel posted an increase of 6.9 percent, with sales reaching 205 million euros (226.4 million dollars).
Picture:Brunello Cucinelli website