Brunello Cucinelli still sees FY rev. about +10%

Brunello Cucinelli still sees FY rev. about +10%

Italian luxury fashion house Brunello Cucinelli has reported strong financial performance for the first half of 2024, with revenues rising by 14.1% year-over-year to €620.7 million (~$686 million) [1]. This robust growth is driven by an increase in operating income, which rose by 19.3% to €104.6 million (~$115.7 million), and a margin increase to 16.9%.

The company's expansion into new production facilities in Italy, specifically in Penne, Abruzzo, and Gubbio, Umbria, has contributed significantly to these results. These new facilities will enhance the company's capacity to produce high-quality garments, including men's outerwear and tailored suits. The initial production has started in leased factories, with plans to complete the construction of new facilities and increase employee numbers in the coming months.

Executive chairman and creative director Brunello Cucinelli expressed satisfaction with the company's performance, confirming the guidance for a revenue growth of around 10% for the full year 2024, with healthy and sustainable profits. The company's new website, developed with Artificial Intelligence, has also been well-received, further boosting its digital presence.

The high quality of revenues and business performance reported in the first half of 2024, along with the company's strong sales and punctual shipments, supports the forecasted revenue growth for 2024. Investors and financial professionals can expect Brunello Cucinelli to maintain its trajectory of growth and profitability throughout the year.

References:
[1] https://www.fibre2fashion.com/news/company-news/fashion-news/italy-s-brunello-cucinelli-s-revenue-rises-14-1-in-h1-fy24-297715-newsdetails.htm