First half sales increase 8.1 percent at Brunello Cucinelli
By Prachi Singh
Jul. 12, 2019
Net revenues at Brunello Cucinelli SpA for the first half of 2019 were 291.4 million euros (328.4 million dollars), a rise of 8.1 percent at current exchange and 7.2 percent at constant exchange rates compared to last year’s 269.5 million euros.
Commenting on the first half trading, Brunello Cucinelli, the company’s Chairman and CEO, said in a statement: “We are fully satisfied with our company's performance in the first half of the year, in terms of both numbers and image. The sales of our spring summer collections were especially good, and the start to the 2019 fall winter season was also very very positive. We serenely envisage a next year full of pleasant and profitable results.”
Review of Brunello Cucinelli’s first half results
The company said revenues in the Italian market reached 44.3 million euros (49.9 million dollars), a rise of 1.1 percent compared to 43.8 million euros at June 30, 2018. European market posted an increase of 9.6 percent, with revenues rising to 92.4 million euros (104 million dollars). Revenues in the North American market increased by 9 percent to 94.1 million euros (106 million dollars). Greater China reported growth of 15.9 percent, with sales reaching 28.8 million euros (32.4 million dollars). Rest of the world saw an increase of 5.5 percent, with sales of 31.9 million euros (35.9 million dollars).
Retail monobrand channel reported growth of 12 percent, with sales reaching 150 million euros (169 million dollars). The company added that the first half confirmed sustainable like-for-like growth, amounting to 3.7 percent, supported by positive sell-outs of the 2019 spring/summer collections. The network consisted of 102 boutiques at June 30, 2019, three new boutiques have been opened during the period under review.
Sales by wholesale monobrand channel were 18.2 million euros (20.5 million dollars), with growth of 1.5 percent on a comparable basis. The network consisted of 28 boutiques instead of 29 at June 30, 2019. Wholesale multibrand channel posted an increase of 6.5 percent, with sales reaching 123.3 million euros (139 million dollars).
Picture:Brunello Cucinelli website