Net profit up 131% for Brunello Cucinelli in H1

Italy
Published:  01 September, 2022
Credit: Brunello Cucinelli

Brunello Cucinelli has reported its financial results for the first half of 2022, with net sales up 32.4% at current exchange rates.

The company achieved net sales of €415.4 million, up 28.3% at constant exchange rates over the same period in 2021. Net profit for Brunello Cucinelli in H1 2022 was €50.6 million, up 131.4% year-on-year.

Retail, which made up 58.6% of sales for the period, was €243.32 million for the first half of the year, up 47.1% year-on-year. Meanwhile, wholesale brought in €172 million, up 16%.

The Americas saw the most growth regionally for the company, up 52.6% year-on-year to €152.6 million and making up 36.8% of the total revenue for the period.

Europe was up 20.7% to €115.77 million, making up 27.9% of the total, while the company’s home market of Italy had a share of 11.8% and grew by 19.9% year-on-year to €49.19 million.

Asia grew by 27.2% in the first half of 2022 to €97.79 million and made up 23.5% of the total revenue for the brand in the period.

In the financial statement, the company celebrated the performance of its Fall/Winter 2022 collections and confirmed its expectation of revenue growth around 15% for the full 2022 financial year.