Cucinelli reports higher first quarter results

Italy
Published:  22 April, 2022
Credit: Brunello Cucinelli

Leather goods brand, Brunello Cucinelli has reported its first quarter 2022 financial results, achieving net revenues of €196.9 million, up 19.6%.

Compared to pre-pandemic 2019, growth is 22.8%, with significant double-digit increases in all international markets, the company reports.

In Europe, revenues for the period were €58.3 million, up 14.5% compared with the first quarter of 2021. In Italy specifically, sales were €24.2 million, up 2.8%.

In the Americas, reported revenues were €66.9 million, up 37.7% year-on-year. The company reports that the U.S. is continuing a healthy long-term growth process.

In Asia, turnover was €47.6 million, up 14.5% with a positive result in China despite the ongoing Covid-19 difficulties.

Following the first quarter results, Brunello Cucinelli expects revenue growth of around 12% in the full 2022 fiscal period, which the company describes as a very important year.