• Home
  • News
  • Business
  • Brunello Cucinelli reports 9.1 percent rise in Q1 revenues

Brunello Cucinelli reports 9.1 percent rise in Q1 revenues

By Prachi Singh

loading...

Scroll down to read more

Business |REPORT

Brunello Cucinelli net revenues of 121.8 million euros (139 million dollars) at March 31, 2016, represented an increase of 9.1 percent or 9.3 percent at constant exchange rates compared to the same quarter, last year.

“The current year is going really well. We are very pleased with both revenues and the image of the brand at global level. We have the impression that the product and also the way in which our Group behaves towards the community are enjoying very positive feedback. As a result, we can be confident and expect healthy double-digit growth in both sales and profit in 2016,” said Brunello Cucinelli, Chairman and CEO.

Revenues by geographical area witness positive growth

Revenues in international markets recorded an overall increase of 9.8 percent representing 79.6 percent of net revenues and 6.4 percent or 24.9 million euros (28.4 million dollars) in the Italian market. Sales in the European market rose by 9 percent to reach 38.4 million euros (43.8 million dollars), representing 31.5 percent of net revenues.

An interesting performance was reported in all geographical areas in the Mediterranean area, Continental Europe and in all countries of the European market, including Eastern Europe, Russia and the countries of the former Soviet Union. North American market revenues increased by 9.2 percent at 37.7 million euros (43 million dollars), representing 31 percent of net revenues.

Greater China sales increased by 11.1 percent or 7.7 million euros (8.7 million dollars), representing 6.3 percent of net revenues. Rest of the World sales grew 13 percent or 13.2 million euros (15 million dollars), representing 10.8 percent of total.

Revenues by distribution channel

Retail monobrand channel revenues increased by 11.4 percent to reach 48.8 million euros (55.7 million dollars), representing 40.1 percent of total. Like-for-like1 sales consolidated the growth trend, with an increase of 3.4 percent. The direct store network consists of 84 boutiques. 10 boutiques were opened and one net conversion from the monobrand channel to the wholesale channel.

Wholesale monobrand channel sales grew 5.4 percent, with revenues of 13.4 million euros (15.3 million dollars), representing 11 percent of the total. This performance is supported by the results in the existing boutiques, in a network of boutiques which remains stable and consisted of 36 boutiques as at March 31, 2016. Multibrand sales channel revenues rose by 8.1 percent, with sales reaching 59.6 million euros (68 million dollars). The monobrand network consisted of 120 boutiques as at March 31, 2016, with 10 net openings. There are 84 direct monobrand boutiques, while the wholesale monobrand network consists of 36 boutiques.

Brunello Cucinelli Facebook

Brunello Cucinelli