Italian luxury brand Brunello Cucinelli has seen impressive growth in the first nine months of 2021, with revenues reaching 502.6 million euros. This represents a 9.4% increase compared to the same period in 2019 or a 12.2% increase when adjusted for currency fluctuations. In comparison to the first nine months of 2020, the brand experienced a remarkable growth rate of 32.7%. These positive results have led the company to predict a 25% annual growth rate for 2021.

The success of Brunello Cucinelli can be attributed to the strong performance of its Autumn Winter 2021 collections, which have garnered positive feedback worldwide. Additionally, the brand has observed a desire among consumers to return to physical retail stores, further contributing to its growth. Looking ahead to next year, the completion of the Spring Summer 2022 order collection is expected to drive further growth, with a projected turnover increase of approximately 10%.

Geographically, Brunello Cucinelli has experienced double-digit sales growth in all markets compared to the same period in 2020. Sales in Asia rose by 35.9%, while the Americas and Europe saw increases of 37.4% and 31.6% respectively. In Italy, growth was more moderate at 21%, with retail sales increasing by 56.5% and wholesale sales by 13.5%.

However, when compared to pre-pandemic levels in 2019, Brunello Cucinelli has not fully recovered in Italy. Sales in the country were down 6.9% compared to two years ago, despite positive trends. In Asia, sales increased by 18% and accounted for 23.7% of total revenues. In Europe, sales rose by 14.1%, representing 30.1% of revenues. The brand performed well in Russia, as well as in Northern and Central Europe and large cities. In the Americas, sales increased by 7.9%.

Retail sales have been a significant driver of growth for Brunello Cucinelli, increasing by 15.6% compared to two years ago and accounting for 52.7% of total revenues. The brand’s retail network included 113 stores as of September 30, 2021, compared to 107 stores the previous year. Wholesale revenues also saw growth, rising by 3.3% compared to 2019.

Overall, Brunello Cucinelli’s strong performance in the first nine months of 2021 showcases its resilience and ability to adapt to changing market conditions. With continued growth anticipated for the remainder of the year and into 2022, the brand remains optimistic about its future prospects in the luxury fashion industry.

Useful links:
Brunello Cucinelli Official Website
Business of Fashion