Brunello Cucinelli raises revenue forecast after strong holiday quarter

After the very healthy results of the first nine months and the strong growth in October, November and the first part of December, Brunello Cucinelli forecasts an increase in revenues for 2023 of between 22 percent and 23 percent, at current exchange rates.

These estimates are above previous expectations of between 20 percent and 22 percent growth, with a very good margin and profit. The company therefore expects a significant growth for the fourth quarter of 2023.

The company said that it also expects to report positive sales in all geographical areas and all channels, with growth that clearly shows the demand for “highly crafted, chic, luxurious and valuable products”.

Commenting on the trading update, Brunello Cucinelli, executive chairman and creative director of the company said in a statement: “We expect to close the year with an increase in sales of between 22 percent and 23 percent at current exchange rates, slightly exceeding 1.1 billion euros; and given the quality of sales, we expect an attractive profit. Furthermore, given the excellent order intake for autumn-winter 2024, we envisage a flattering 10 percent growth in turnover and a fine profit for next year.”

For 2024, the company forecasts solid growth in sales of around 10 percent, due to the excellent order intake completed for the women’s and men’s spring-summer 2024 collections, the excellent start of the fall-winter 2024 sales campaign and the planning of the new openings and expansions already contracted.

As far as 2025 is concerned, Brunello Cucinelli estimates healthy revenue growth of around 10 percent.

The company added that just over 10 years after its listing on the Italian Stock Exchange, December 18, 2023 marks the entry of the company’s stock into the FTSE MIB, the main index of Piazza Affari.