In the first quarter of 2019, luxury fashion brand Brunello Cucinelli continued to demonstrate strong growth with a notable 8.1% increase in revenue, reaching €160.4 million. This growth, which translates to a 7.1% rise at constant exchange rates, was observed across all markets and sales channels. Such success has fueled optimism for the brand’s performance in the upcoming months.
Founder and CEO, Brunello Cucinelli, expressed his excitement for the brand’s future prospects. “We are thrilled with the steady and balanced growth we have achieved, and are looking forward to launching our children’s line with the same level of enthusiasm, respect, and attention to detail,” stated Cucinelli in a recent communication. The positive response to orders for the Fall/Winter 2019 collection suggests that the brand is well-positioned to meet its growth target of 8%.
With a strong emphasis on international markets, Brunello Cucinelli’s revenue from global sales accounted for 82.3% of the total earnings. North America emerged as the primary market, contributing 28.9% to total sales and experiencing a significant 9.2% increase in revenue to €46.4 million. Europe also witnessed growth, with sales rising by 8.7% to €52.1 million, while revenue in Greater China surged by 12.7% to €15.4 million.
Back home in Italy, the brand experienced a 4.2% growth in revenue during the first quarter, amounting to €28.4 million. The success of the men’s tailoring workshop, ‘Sartoria di Solomeo,’ has been highlighted as a driving force behind this positive trend. Furthermore, the highly anticipated launch of the childrenswear line later this year is expected to further bolster sales.
Direct retail sales through Brunello Cucinelli’s own stores saw a notable uptick of 8.5%, amounting to €71.2 million in revenue. On the other hand, sales through franchised stores decreased by 4.4%, primarily due to the transition of certain stores into company-operated locations. Sales through multibrand retailers and department stores also witnessed a commendable increase of 9.8%.
In conclusion, the robust performance displayed by Brunello Cucinelli in the first quarter of 2019 sets a solid foundation for the brand’s future growth and strategic expansion. The brand remains committed to delivering luxury products with unparalleled craftsmanship and design, catering to the evolving demands of its global clientele.
To learn more about Brunello Cucinelli and explore their latest collections, visit their official website here. For insights into the luxury fashion industry and trends, check out this informative article here.
