Brunello Cucinelli ups FY revenue outlook on strong H1

Italian fashion house Brunello Cucinelli has reported a 31 percent jump in revenue in its preliminary results for the first half of 2023.

The maison made revenue of 543.9 million euros, with growth across geographies: the Americas were up 23.9 percent, Europe was up 22.6 percent, and Italy was up 23.7 percent.

However, it was Asia that saw the most growth, up 55.6 percent year-on-year as the Greater China market continued to recover from the pandemic.

Breaking it down by channel, the brand reported growth of 41.6 percent in retail, while wholesale was up 15.8 percent.

Brunello Cucinelli revises FY guidance

The company said the results were driven by “excellent” sell-outs of the SS23 collections for both men's and women's, and punctual delivery progress for FW23 collections.

Executive chair and creative director Brunello Cucinelli hailed “more than excellent results” in the first half.

“Thanks to the strong demand for handcrafted and exclusive products, we continue to have a very positive outlook on the absolute luxury world market,” he said.

Based on its preliminary results, the company upped its full-year revenue outlook to between 17 percent and 19 percent, compared to its previous estimate of up 15 percent.

Looking further ahead at 2024, Cucinelli said: “Given the excellent sell-out of the Spring-Summer 2023 collections and the significant order intake for the Men's Spring-Summer 2024 collection so far, we expect a healthy growth of around 10 percent next year.”