Brunello Cucinelli records strong growth in revenue and profit

In 2023, revenue of 1.2 billion euros at Brunello Cucinelli increased 23.9 percent at current exchange and 26 percent at constant exchange rates, the EBIT rose 39.4 percent to 187.4 million euros, and net profit increased 42 percent to 123.8 million euros

Following a positive performance in the first few months of the new fiscal year and the significant order intake for the fall-winter 2024 collections, the company confirms forecast for approximately 10 percent growth for 2024, with a healthy profit.

Commenting on the company’s performance, Brunello Cucinelli, executive chairman and creative director said: "We delivered a 23.9 percent increase in turnover and a 42 percent rise in net profit. The first quarter of this 2024 is drawing to a close with particularly pleasing results, and in view of the good order intake for men's - women's fall/winter 2024, we envisage a gracious growth in sales of around 10 percent for this year, resulting in healthy and balanced profits.”

Brunello Cucinelli recorded 21 percent growth in America, 17 percent in Europe and 40 percent in Asia. The company also reported strong increases of 30 percent and 13 percent in both the retail and wholesale channels, respectively.

As at December 31, 2023, the company operated 125 retail boutiques, well distributed in the various geographical areas. The company said that its network of direct boutiques benefited from three exclusive openings in 2023 in Rome, the Mall of the Emirates in Dubai and the New World Tower centre in Hong Kong.

The company’s board of directors plans to propose the distribution of a dividend of 0.91 euros per share.