Italian fashion house Brunello Cucinelli's revenue up 16.5% in Q1 FY24

The company's performance across different regions was notably positive. In Europe, revenues rose to €108.8 million, a 13.9 per cent increase from the first quarter of the previous year, accounting for 35.2 per cent of the total revenues. The Americas region reported even higher growth, with sales up 19.5 per cent to €114.2 million, making up 36.9 per cent of the total sales. Asia reported revenues of €86.1 million, a 16 per cent increase over the same period last year, representing 27.9 per cent of total revenues.

Brunello Cucinelli's retail channel, which includes its global network of boutiques, generated revenues of €188.6 million, up 15 per cent compared to the first quarter of FY23, and accounted for 61 per cent of the total sales. As of March 31, 2024, the number of retail boutiques remained steady at 125, the same as at the end of December 2023, and up from 122 boutiques as of March 31, 2023, the company said in a press release, the company said in a press release.

The wholesale channel also performed well, showing a 19 per cent increase in revenues to €120.5 million, comprising 39 per cent of the total revenues.

“The first quarter of this year closed with excellent sales results that perfectly reflect the favour that our collections and lifestyle are garnering all over the world. The abundant accumulation of orders for the autumn-winter 2024 collections—both men's and women’s—and the strongly positive nature of the comments from international journalists and major multibrands with regard to our 'gentle luxury' style, lead us to reiterate our expectations for the 2024 full year with renewed conviction: one of revenue growth in the region of 10 per cent and a healthy and fair profit,” said Brunello Cucinelli, executive chairman and creative director of the fashion house.

Fibre2Fashion News Desk (DP)