Cucinelli Posts 33% Rise in Q1 Gross sales, Confirms 2023 Income Development Forecast

Gross sales at Italian luxurious group Brunello Cucinelli rose 33 p.c at fixed change charges within the first quarter, pushed by robust progress within the Americas and a rebound in Asia.

Cucinelli mentioned that the demand progress in North America seemed “more and more structural”, whereas the “decidedly optimistic pattern” in China continued and confirmed the long run potential of this necessary marketplace for the group.

Gross sales for the three months ending in March got here to €265.3 million ($290.6 million).

The style model, finest identified for its cashmere clothes, confirmed its expectations of a sale improve of round 15 p.c this 12 months.

Cucinelli mentioned it had determined to arrange a brand new manufacturing facility in Italy’s Abruzzo area, within the city of Penne, which is understood for its custom of handcrafted manufacturing, notably for males’s fits.

“We consider that there’s nice potential for progress on this particular section”, the group mentioned within the assertion.

By Elisa Anzolin; Editor Keith Weir

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Cucinelli Raises Gross sales Development Forecast for 2023

Italian luxurious group Brunello Cucinelli on Wednesday raised its gross sales progress steerage for 2023 to fifteen p.c, up from its earlier estimate of 12 p.c, on the again of a powerful begin to the 12 months and important orders for coming seasons.