Brunello Cucinelli ends 2012 on high note

Italian cashmere company Brunello Cucinelli

ended 2012 on a high note. The company, who went public last April, saw a near 50 percent increase in its share value the day it went listed.

The brand has since reported consistent sales growth, which for the first nine months were 220.2 million euro in revenue. The company sites its international sales as 73 percent of its turnover, and plans to open several stores in 2013.

The company has reportedly signed agreements for 12 new locations, as well as investing around 20 million euro (5 of which has already been invested in 2012 ) to expand its factory in Umbria.

Cucinelli noted that his success was an expression of confidence in his home country, where Italy is undergoing tough reform to lower its debt, kick-start the economy and avoid falling further victim to the region’s sovereign debt crisis.