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Brunello Cucinelli FY19 revenue jumps 9.9%
13 Mar 20 2 min read
Brunello Cucinelli, an Italian luxury fashion brand, posted 9.9 per cent jump in its revenues to €607.8 million in fiscal 2019 that ended on December 31, 2019 compared to €553.0 million in prior year. The company reported 7.1 per cent growth in normalised net income to €49.3 million. Operating income rose from €69.5 million to €83.3 million in FY19.
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"We have defined the past year, 2019, as an excellent one because of the growth enjoyed by our company both from a financial point of view, with a sound increase in sales and margins, and in terms of brand positioning," Brunello Cucinelli, chairman and CEO, said in a press release.
Italian market registered a growth of 1.7 per cent in sales, with revenues of €89.7 million, compared to €88.2 million in prior year. Sales in European market jumped 12.9 per cent to reach a turnover of €184.8 million compared to €163.7 million in FY18. Sales in North America grew 9 per cent to €204.1 million compared to €187.2 million in prior year. China's sales expanded 14.6 per cent to €62.9 million compared to €54.9 million in prior fiscal. Sales in Rest of the World increased 12.4 per cent to €66.3 million compared to €59.0 million.
Retail monobrand channel's sales with network of 106 boutiques in FY19 grew 14.6 per cent to €339.5 million. Wholesale monobrand channel consisting of 30 boutiques posted 8 per cent growth to €32.6 million. Wholesale multibrand channel sales increase 4.1 per cent to €235.7 million.
"Knowing that the trend in fashion has veered towards a taste more suited to our own, having completed the Spring Summer 2020 deliveries as well as the Fall Winter 2020 order collection with excellent results and with pleasing feedback from buyers and the trade press, we look towards 2020 with a positive attitude." Cucinelli said.
Fibre2Fashion News Desk (JL)
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