Brunello Cucinelli raises forecast, projects 11 to 12 percent revenue growth

Following positive sales in the last few months and of early December, Brunello Cucinelli projects an increase in revenues of 11 to 12 percent for 2024, with growth in the fourth quarter expected to be in line with the outstanding result for the third quarter.

Commenting on the year-end update, Brunello Cucinelli, executive chairman and creative director of the company said in a statement: “Our final project leads us to envision a year with growth ranging between 11 percent and 12 percent. Given the high quality of sales, we anticipate a healthy and balanced profit.

The company said that the increase in sales will be accompanied by fascinating results in terms of margins and profits for the full year. In relation to the latter part of the year, the company expects positive results for both the retail and multi-brand channels.

“We are ending the year with an outstanding order book for the spring-summer 2025 collections, already very popular when they were unveiled this summer. Initial comments and orders taken for the fall-winter 2025 women's pre-collection are currently outstanding in our boutiques,” the company added.

Brunelli Cucinelli aims for growth of around 10 percent for 2025 and 2026 and doubling turnover from 2023 to 2030.

To support the outlook for growth to 2030 and in the long term, the company plans to invest in new factories at Penne, Abruzzo and Gubbio, fully focused on the production of men’s outerwear and tailored suits.

“Even in Gubbio, we are now also building a small facility with a magnificent panoramic view of the medieval citadel, where we can work in harmony with creation. I am very confident in the value of beautiful, well-made garments made in Italy that we can leave as our legacy. Perhaps in the times to come the theme will not be to whom we sell these special garments, but rather whose masterful hands will be making these little masterpieces,” added Cucinelli.

The investment plan also includes the completion of the expansion of the Solomeo plant.