«We are particularly satisfied with the results achieved in this six-month period and even more with the great attention we see around our brand. Sales of this Spring Summer 2021 have been very good ». Brunello Cucinelli, executive chairman and creative director of the company of the same name, commented on the preliminary revenue figures for the first half approved by the Board of Directors, which saw revenues rise to 313.7 million euros, up 52.9% at current exchange rates (+ 10% at constant exchange rates) compared to the same period last year. The first half of 2020 was naturally “strongly influenced by the closure of a significant number of boutiques around the world, particularly in the second quarter”, so the comparison with the pre-ovid data is more significant. The turnover is thus up by 7.7% compared to the first half of 2019. In the second quarter of this year alone, sales amounted to 149.1 million, with a growth of + 13.8% compared to the same period of 2019.
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As regards the geographical cross-section, the company recorded good growth in the half year Asia (+19,7%), major increase in Europe (+ 9.2%) and in America (+ 5.1%), while there was a decline in Italy (-7.5%). The results were favorable both in the retail channel (+ 10.3%) and in the wholesale channel (+ 4.9%).
In light of these elements, Brunello Cucinelli looks “with new and very confident eyes to the second half of the year” and expects “an excellent growth in sales for the whole of 2021, around + 20% compared to 2020 ( + 10% compared to 2019), with an equally positive and balanced increase for the year 2022 around + 10%»Added the president, who in April had anticipated a turnover growth of between 15 and 20% for 2021, followed by + 10% in 2022.
The company also expects to continue in 2023 “the path of healthy development, realigning itself fully to the objectives of the first five-year period (2019-2023) of the 2019-2028 ten-year plan which should lead to a doubling of turnover, reaching approximately 1.1 billions of euros in revenues “.