Italian firm Brunello Cucinelli’s revenue soars 23.9% in FY23

In terms of sales channels, the retail channel accounted for 65.5 per cent of the total revenue, which included about 10 per cent within luxury department stores. The wholesale channel contributed 34.5 per cent to the total. The retail channel alone generated revenues of €746.7 million, a significant 30.2 per cent increase compared to 2022. The wholesale channel also saw a healthy growth, with sales reaching €392.7 million, marking a 13.4 per cent year-on-year (YoY) increase, the company said in a media release.

Brunello Cucinelli’s FY23 revenues hit a record €1,139.5 million, up 23.9 per cent from FY22.
Retail sales, making up 65.5 per cent of total, grew 30.2 per cent to €746.7 million, while wholesale rose 13.4 per cent to €392.7 million.
Europe, the Americas, and Asia saw significant growth, with Q4 revenues up 15.6 per cent year-on-year to €321 million.

Geographically, Brunello Cucinelli’s success spanned across various regions. Europe generated revenues of €428.1 million, witnessing a 16.8 per cent YoY increase and representing 37.6 per cent of the total sales. The Americas reported a turnover of €404.4 million, up 20.8 per cent YoY and accounting for 35.5 per cent of sales. Asia showed remarkable growth with revenues of €306.8 million, a substantial 40.4 per cent increase compared to 2022, contributing 26.9 per cent to the total sales.

The fourth quarter (Q4) revenues stood at €321 million, up 15.6 per cent compared to the fourth quarter of FY22.

“Another year that we regard as particularly significant and noble for the brand has ended, with a 23.9 per cent 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,” said Brunello Cucinelli, executive chairman and creative director of the fashion house.

Fibre2Fashion News Desk (DP)