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Brunello Cucinelli H1 revenues increase by 9 percent

By Prachi Singh

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Management

Brunello Cucinelli announced through a statement that net revenues at June 30, 2018 reached 269.5 million euros (314.7 million dollars), increasing by 9 percent at current exchange and 11.9 percent at constant exchange rates. The company added that total revenues, which include other operating income, rose by 8.7 percent to 270.1 million euros (315.4 million dollars). EBITDA for the period of 46.2 million euros (53.9 million dollars) represented a rise of 11.2 percent over the corresponding period, with an improvement in margin from 16.7 percent to 17.1 percent.

Commenting on the company’s first half, Brunello Cucinelli, Chairman and CEO, said in a statement: “It is with great, great satisfaction that we are disclosing our first-half results; significant figures that report constant growth of both revenues and profit. We expect 2018 to close with double-digit growth of both EBITDA and profit.”

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Brunello Cucinelli posts strong results across geographies

The company added that revenues in the Italian market were up by 4.8 percent or 43.8 million euros (51 million dollars), representing 16.3 percent of the total. Revenues in the European market rose 12 percent reaching 84.3 million euros (98 million dollars), representing 31.3 percent of the total. North American market reported high single digit growth at constant exchange rates with sales reaching 86.3 million euros (100.7 million dollars), an increase of 2.4 percent, representing 32 percent of the total turnover.

Sales in Greater China rose by 35.3 percent, reaching 24.9 million euros (29 million dollars) and represented 9.2 percent of the total. The increase in sales, the company said, covered all the markets concerned such as Continental China, Macao, Taiwan and Hong Kong. Rest of the world sales rose by 9.7 percent, with revenues reaching 30.2 million euros (35.2 million dollars), representing 11.2 percent of the total.

Brunello Cucinelli's performance by distribution channel

Retail monobrand channel saw an increase in revenues of 7.1 percent at 133.9 million euros (156 million dollars) in the first half of last year and represented 49.7 percent of the total. The first six months of 2018 saw sustainable growth of 3.8 percent in like-for-like as the result of the positive sell-outs of the 2018 spring/summer collection. The network reached 97 boutiques at June 30, 2018 with one opening in the first six months.

Wholesale monobrand channel sales rose by 12.4 percent to reach 19.8 million euros (23 million dollars), representing 7.3 percent of the total. The opening of the prestigious Dubai Mall in the first quarter of 2018, the company added, made a positive contribution; the network consisted of 29 boutiques at June 30, 2018, with two wholesale monobrand boutiques in Singapore converting to the direct channel. Wholesale multibrand channel saw sales growth of 10.7 percent at 115.8 million euros (135 million dollars), representing 43 percent of the total.

Picture:Brunello Cucinelli website

Brunello Cucinelli