For the first half of 2024, Brunello Cucinelli, an Italian luxury fashion brand, saw revenues of € 620.7 million rise by 14.1 per cent at current exchange rates and 14.7 per cent at fixed exchange rates.
With a margin of 16.9 per cent, the company’s EBIT of US $ 104.6 million was up 19.3 per cent. The period’s net profit of US $ 66.1 million saw a 31.1 per cent increase.
Commenting on the second quarter results and outlook, Brunello Cucinelli, executive chairman and creative director of the fashion house said, “Sales were excellent, profits were positive and balanced, the brand is fit and healthy, and the feedback on our product offering was highly favourable. All of this leads us to confirm our guidance of a revenue growth for FY 2024 of around 10 per cent, with healthy and sustainable profits.”
The corporation projects positive growth of about 10 per cent for 2024, based on its year-to-date performance. In a statement, the business stated that the favourable reception to its spring and summer 2025 sales campaigns supports its projection of 10 per cent growth in 2025, with an objective of doubling revenues by 2030.
