• Excellent revenues of €1,139. 5 million, up 23.9% at current exchange rates compared to 2022 (up 26 .0 at constant exchange rates);
• Outstanding results in all geographical areas and distribution channels, with exceptional sales quality favoured by the positioning of the Brunello Cucinelli brand in the highest and most exclusive luxury segment;
• Sales by geographical area: Americas +20.8%, Europe +16.8%, Asia +40.4%;
• Revenues by distribution channels: retail +30.2%, wholesale +13.4%; • Significant investments in 2023, amounting to approximately €78 million, as part of the major three year plan fot commercial and handicraft production;
• Solid capital structure, with a characteristic characteristic1 net debt at substantially parity and equal to approximately € 7 million;
• The initial sell out rates of the Spring Summer 2024 collection are extremely promising and follow on from the excellent order intake. These figures prompt us to imagine a very favourable first half year, consolidating our growth forecast of around +10% for the full year 2024.
Brunello Cucinelli, Executive Chairman and Creative Director of the Casa di Moda:
Another year that we regard as particularly significant and noble for the brand has ended, with a 23.9% increase in turnover and, given the excellent quality of sales, we are expecting a very good profit. We are also honoured by the image our Casa di Moda conveys to the world of luxury craftsmanship and lifestyle.
The great orders in our portfolio for the Spring Summer 2024 collection and the excellent start of sales in our own boutiques and multi brand stores result in a most optimistic outlook for the first half of this year. In view of all this, we are confirming our great confidence for this year, where we envisage a gracious, comfortable and health y growth of around 10%.
We therefore extend our warmest thanks and best wishes to you, our valued partners, journalists, investors and analysts, and wish that the New Year will be one of serenity and brotherly love for each and every one of us and for mankind as a whole.
Read the press release:
https://www.emarketstorage.it/sites/default/files/comunicati/2024-01/20240108_141106.pdf
Brunello Cucinelli S.p.A. is an Italian Casa di Moda founded in 1978 by the eponymous designer and entrepreneur and is listed on the medium and large companies stock exchange (MTA) of Borsa Italiana. Long rooted in the medieval Umbrian hamlet of Solomeo, t he company is guided by an entrepreneurial philosophy that focuses on the major themes of "Harmony with Creation", respect for the dignity of every living being, and the pursuit of balanced growth in full accordance with the ethical values embodied in the founding principles of Humanistic Capitalism and Human Sustainability.
Initially specialising in the production of cashmere of the highest quality, the brand has expanded to include a lifestyle and ready to wear and casual chic offer, expressing a refined, discreet, yet versatile and everyday style. The collections seek to in terpret the most authentic spirit of the Italian way of life, recreating with passion and ethics a taste perpetually balanced between elegance, creativity, contemporaneity and craftsmanship, one rooted in the values of tailoring and high craftsmanship pecu liar to the Italian tradition and the Umbrian region, and deftly combined with an emphasis on innovation and contemporary style. Through a path of healthy, fair and sustainable development, the company seeks to generate profits with integrity and harmony, while respecting the moral and economic dignity of the more than 2,500 people who work for our company.
***
Contacts:
Investor Relations & Corporate Planning
Pietro Arnaboldi
Brunello Cucinelli S.p.A.
Tel. +39 075/69.70.079
Media
Vittoria Mezzanotte
Brunello Cucinelli S.p.A.
Tel. +39 02/34.93.34.78
Corporate website:
www.brunellocucinelli.com
• Outstanding results in all geographical areas and distribution channels, with exceptional sales quality favoured by the positioning of the Brunello Cucinelli brand in the highest and most exclusive luxury segment;
• Sales by geographical area: Americas +20.8%, Europe +16.8%, Asia +40.4%;
• Revenues by distribution channels: retail +30.2%, wholesale +13.4%; • Significant investments in 2023, amounting to approximately €78 million, as part of the major three year plan fot commercial and handicraft production;
• Solid capital structure, with a characteristic characteristic1 net debt at substantially parity and equal to approximately € 7 million;
• The initial sell out rates of the Spring Summer 2024 collection are extremely promising and follow on from the excellent order intake. These figures prompt us to imagine a very favourable first half year, consolidating our growth forecast of around +10% for the full year 2024.
Brunello Cucinelli, Executive Chairman and Creative Director of the Casa di Moda:
Another year that we regard as particularly significant and noble for the brand has ended, with a 23.9% increase in turnover and, given the excellent quality of sales, we are expecting a very good profit. We are also honoured by the image our Casa di Moda conveys to the world of luxury craftsmanship and lifestyle.
The great orders in our portfolio for the Spring Summer 2024 collection and the excellent start of sales in our own boutiques and multi brand stores result in a most optimistic outlook for the first half of this year. In view of all this, we are confirming our great confidence for this year, where we envisage a gracious, comfortable and health y growth of around 10%.
We therefore extend our warmest thanks and best wishes to you, our valued partners, journalists, investors and analysts, and wish that the New Year will be one of serenity and brotherly love for each and every one of us and for mankind as a whole.
Read the press release:
https://www.emarketstorage.it/sites/default/files/comunicati/2024-01/20240108_141106.pdf
Brunello Cucinelli S.p.A. is an Italian Casa di Moda founded in 1978 by the eponymous designer and entrepreneur and is listed on the medium and large companies stock exchange (MTA) of Borsa Italiana. Long rooted in the medieval Umbrian hamlet of Solomeo, t he company is guided by an entrepreneurial philosophy that focuses on the major themes of "Harmony with Creation", respect for the dignity of every living being, and the pursuit of balanced growth in full accordance with the ethical values embodied in the founding principles of Humanistic Capitalism and Human Sustainability.
Initially specialising in the production of cashmere of the highest quality, the brand has expanded to include a lifestyle and ready to wear and casual chic offer, expressing a refined, discreet, yet versatile and everyday style. The collections seek to in terpret the most authentic spirit of the Italian way of life, recreating with passion and ethics a taste perpetually balanced between elegance, creativity, contemporaneity and craftsmanship, one rooted in the values of tailoring and high craftsmanship pecu liar to the Italian tradition and the Umbrian region, and deftly combined with an emphasis on innovation and contemporary style. Through a path of healthy, fair and sustainable development, the company seeks to generate profits with integrity and harmony, while respecting the moral and economic dignity of the more than 2,500 people who work for our company.
***
Contacts:
Investor Relations & Corporate Planning
Pietro Arnaboldi
Brunello Cucinelli S.p.A.
Tel. +39 075/69.70.079
Media
Vittoria Mezzanotte
Brunello Cucinelli S.p.A.
Tel. +39 02/34.93.34.78
Corporate website:
www.brunellocucinelli.com
© 2024 GlobeNewswire (Europe)
