Brunello Cucinelli reports successful sales in 2022
Italian luxury apparel and accessories brand Brunello Cucinelli's 2022 sales guidance was up 29,1%. For the 12 months ended December 31, 2022, the brand's revenue reached €919,5 million, up from €712,2 million in 2021.
Cucinelli, the brand's executive and creative director, said that 2022 was "undoubtedly a breakthrough year for us" not only because of the increase in sales, but also because "at the same time, the brand's image around the world has been significantly strengthened."
In light of strong spring bookings and an "extraordinary start" to the fall 2023 sales campaign, he expects a "great year", confirming his previous forecast of reaching sales of 1 billion euros in 2023, corresponding to a growth of 12%.
In 2022, the brand's sales in Italy grew by 21,8% to 102,6 million euros, representing 11,1% of the total. Cucinelli described them as "excellent" results, underpinned by the performance of their own retail and multi-brand partners.
Revenues in Europe, excluding Italy, rose 20,4% to €263,8m, representing 28,7% of the total, driven by "strong demand" in major capitals as well as provincial cities; the return of international tourism, especially from North America, and "year-round efforts to revitalize" its boutiques and those of its multi-brand partners "through small events that have fueled the desire of many customers to return to traditional retail."
Sales in the Americas jumped 40,5% to 334,7 million euros, accounting for 36,4% of the total.
Revenue in Asia increased by 28,1% to 218,4 million euros, representing 23,8% of total sales. Cucinelli noted the brand's "very high potential" in the region in the medium to long term and pointed to the brand's "growing appeal" in China.
Italian luxury apparel and accessories brand Brunello Cucinelli's 2022 sales guidance was up 29,1%. For the 12 months ended December 31, 2022…
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