Brunello Cucinelli new factory
Piazza Affari, Brunello Cucinelli joins the Ftse Mib
The prestigious Italian luxury house, Brunello Cucinelli, will enter the main index of Piazza Affari, replacing CNH Industrial, of which Exor, the majority shareholder belonging to the Agnelli-Elkann family. The appointment is set for Monday 18 December. While the Italian-American industrial group CNH prepares for the delisting, which will become effective on January 2, 2024 (the last day of listing of the stock will be December 29), focusing on the New York list, it will be the renowned cashmere brand that will occupy his place and to join the elite of Piazza Affari. This news is reported by Corriere della Sera.
Ftse Mib, the luxury of Brunello Cucinelli and Moncler
Brunello Cucinelli, considered an icon of luxury, will join Moncler, the only other fashion brand present in the main Piazza Affari index. With a capitalization of 5.7 billion euros, Brunello Cucinelli is ready to become a blue-chip, achieving this milestone just over two years after its listing, also supported by the positive financial results of the first nine months of the year. The company recently announced the success of the fourth upward revision of its forecasts for 2023, with the aim of achieving revenue growth of between +22% and +23% at current exchange rates, exceeding 1.1 billion euros for the whole year.
Brunello Cucinelli, the executive president and creative director of the fashion house, commented on the result by declaring: “It is a very important and highly prestigious result that makes us very proud.” On the occasion of the listing on the stock exchange, he had expressed the desire to make man’s work more humane and to list the company to make it last for the next fifty years. He had also underlined the desire to look for new partners who could act as true custodians of the company for the next century, since he believes in a “new contemporary humanistic Capitalism”.
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