Brunello Cucinelli posts 9.7 percent rise in revenues

Net revenues for the nine months period at Brunello Cucinelli increased by 9.7 percent or 10 percent at constant exchange rates to reach 348.4 million euros (379 million dollars), compared to 317.6 million euros (346 million dollars) at September 30, 2015. The company said, this result was driven by sales increase in all markets.

In the company release, Brunello Cucinelli, Chairman and CEO, said, “We are very very happy with the results achieved over the first nine months of the year. Having reached November, we can already say that we expect another particularly positive full year in terms of both revenues and profit. Moreover, we are very satisfied with the spring summer 2017 sales campaign. Together with the more than positive sell out rate of this winter season, prompt us to envisage a very positive 2017 with a healthy growth in terms of revenues and profitability.”

Brunello Cucinelli posts positive growth across markets

Italian market saw the continuation in positive growth seen in the first half of the year with sales increasing by 7.3 percent in the first 9 months of 2016 to 64.3 million euros (70 million dollars), representing 18.4 percent of net revenues. Sales rose in both the multibrand and monobrand channels. Revenues in the European market increased 7.1 percent, with sales reaching 105.2 million euros (114 million dollars), representing 30.2 percent of net revenues.

North American market reported rise of 7.2 percent in revenues to reach 122.5 million euros (133 million dollars), representing 35.2 percent of net revenues. Revenues in Greater China rose by 18.4 percent, with sales reaching 21.4 million euros (23 million dollars), representing a modest 6.1 percent of net revenues. Rest of the World sales rose by 29.1 percent, with revenues of 35.1 million euros (38 million dollars), representing 10.1 percent of net revenues.

Revenues increased in all the company’s markets including the Mediterranean area, Continental Europe, Eastern Europe, Russia and the former Soviet countries.

Multibrand and monobrand network performed positively

Retail monobrand channel sales rose by 15.1 percent to reach 156.4 million euros (170 million dollars), representing 44.9 percent of net revenues driven by rise in the revenues in existing spaces and the contribution made by the openings of the five new boutiques. The rise in like-for-like sales was 3.8 percent for the period from January1 to October 30. The network consisted of 86 boutiques at September 30, 2016.

Wholesale monobrand channel sales of 29.4 million euros (32 million dollars), increased 4.2 percent, representing 8.4 percent. The company said, performance of the existing boutiques drove growth in the first 9 months of the year, in the presence of a total network passing from 38 boutiques at September 30, 2015 to the current 362 . Over the past 12 months the number of boutiques in the monobrand channel network rose from 116 at September 30, 2015 to the present 122.

Multibrand sales channel posted a rise of 5.9 percent in sales which reached 162.6 million euros (177 million dollars), representing 46.7 percent of net revenues.

Picture:Brunello Cucinelli