Italian luxury brand Brunello Cucinelli is seeing a promising future, as it has once again revised its revenue growth forecast for 2023. The company now anticipates its sales to exceed 1.1 billion euros ($1.2 billion), showcasing an increase of 22%-23% at current exchange rates. This surpasses their previous forecast of a 20-22% rise, highlighting the brand’s strong performance and market demand.
Known for its exceptional quality cashmere garments, Brunello Cucinelli’s optimistic outlook is fueled by the success of its sales. The company’s Executive Chairman, Brunello Cucinelli, emphasized the premium nature of their products, noting that customers are willing to invest in luxury items that offer unmatched craftsmanship and style.
Additionally, the brand reaffirmed its sales growth projections for the upcoming years, expecting an approximate 10% increase for both 2024 and 2025. This demonstrates its confidence in long-term sustainability and continued success.
During a conference call with analysts, Brunello Cucinelli hinted at a slightly higher operating profit margin for the coming year. This suggests that the brand not only aims for revenue growth but also prioritizes profitability and financial stability.
Overall, the revised forecast and positive outlook reflect Brunello Cucinelli’s ability to adapt to changing market dynamics while maintaining its commitment to delivering excellence in luxury fashion.
Useful links:
– Brunello Cucinelli Official Website
– Business of Fashion: Inside Brunello Cucinelli’s Slow Luxury Movement
