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Revenues up 16.1% at Italian cashmere house Brunello in H1

30
Aug '12
The Board of Directors of Brunello Cucinelli S.p.A. – an Italian fashion house that operates in the luxury goods sector, listed on the Electronic Stock Market (MTA) of Borsa Italiana since April 27, 2012 - reviewed and approved the consolidated results for the first semester of 2012.

The Group’s net revenues for the first half of 2012 reached Euro 135.2 million (+16.1% over the Euro 116.5 million posted in the first half of 2011); at constant exchange rates, revenues totaled Euro 134.0 million, up by 15.1%.

Revenues from sales and services, which include other operating income, amounted to Euro 136.7 million, an increase of 17.0% compared to the first half of the previous year.

Brunello Cucinelli: “The healthy results enjoyed in the first semester of this year, both in terms of revenues and profitability, have confirmed the successful moment experienced by the Brunello Cucinelli brand globally and lead us to envisage full-year growth both in terms of sales volumes and profitability: a sustainable and gracious growth, the same we have been imagining from the very beginning”.

“Worldwide we are reaping the fruits of our belief in the brand's quality, craftsmanship and exclusivity, by reminding ourselves of our work's fundamentals: simplicity, creativity and rapidity”.

“Our 2013 Spring-Summer collections have stirred and are enjoying significant appreciation in terms of taste from our wholesale clients, buyers from the major department stores and shop managers of our monobrand stores. This leads us to believe that next spring our stores will display a collection which will speak of our Italian identity, culture and life”.

Net Revenues performance

As already announced following the Board of Directors meeting on July 19, the Group achieved double digit growth in all its foreign markets: +23.3% In the North American market (net revenues of Euro 35.4 million compared with Euro 28.7 million in the first half of 2011), +17.3% in the European markets (net revenues of Euro 44.0 million compared with the previous Euro 37.5 million), +51.6% in Greater China (net revenues of Euro 6.2 million compared with Euro 4.1 million in the first half of 2011) and +52.9% in the Rest of the World (net revenues of Euro 12.9 million compared with the previous Euro 8.5 million).

The domestic market, with a turnover of Euro 36.6 million (slightly falling, by 2.8%, compared with the Euro 37.6 million in the first half of 2011), continued its interesting performance with positive results in the monobrand channel.

Revenues by distribution channel rose significantly as far as retail (+49.4%) and franchising (+46.7%) are concerned. These results have been driven by the monobrand stores’ new openings program (9 net new DOS and 6 net new franchised boutique since June 30, 2011) and by the like for like performance of the retail network, with 12.9% growth posted in the first 33 weeks of 2012 (1 January – 19 August 2012).


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