Italian luxury brand Brunello Cucinelli has achieved impressive growth in turnover for the year 2021. The company has reported a revenue of €712 million, representing a substantial increase of 30.9% compared to the previous year. This growth becomes even more remarkable when compared to 2019, with a rise of 17.2%.

Brunello Cucinelli’s revenue growth has been observed across all regions. In Italy, the brand saw a 23.2% increase in revenue, although this figure was 6.2% lower than in 2019. The rest of Europe experienced a significant revenue rise of 26.5%, marking a notable growth of 23.8% over 2019. The Americas also showed positive growth with a 36.7% increase (15.8% over 2019), while Asia experienced a 32.9% growth (26% over 2019).

The brand credits the recovery in sales to luxury capitals such as Paris, Milan, and London, where Brunello Cucinelli capitalized on the desire of customers to return to physical spaces. The brand organized events and meetings inside its stores, with the recently opened boutiques in London and Paris garnering particular success, emphasizing the brand’s commitment to hospitality.

Brunello Cucinelli attributes its growth in Europe to contributions from Russia, central and northern Europe, as well as second-tier cities. The Mediterranean area has also seen a progressive recovery, driven by increased regional tourism and visits from international customers, especially from North America.

In terms of distribution, the direct retail channel played a significant role, accounting for 58.9% of the total revenue. This channel includes 114 monobrand stores and 44 department store concessions. The direct retail channel witnessed exceptional growth, with a 56% increase over 2020 and a 23.5% increase over 2019. In contrast, the wholesale channel experienced weaker growth at 6.3% (rising 9.1% compared to 2019), with its share of revenue decreasing to 41.1% from 44.1% two years ago.

Brunello Cucinelli’s Executive President and Creative Director, Brunello Cucinelli, expressed his satisfaction with the company’s performance in 2021, referring to it as a year of rebalancing. The brand has achieved significant financial results and enhanced its global brand image. Positive feedback has been received from buyers and international media on its collections for Spring/Summer 2022 and Fall/Winter 2022 pre-collections. Looking ahead, Cucinelli expects a balanced growth rate of around 10% for the current year, allowing the company to plan for a bright future for the brand, the region, and future generations.

Useful links:
Brunello Cucinelli Official Website
Brunello Cucinelli Company Timeline