Brunello Cucinelli reports turnover growth of 12.2 percent in the 2024 financial year

The Italian fashion group Brunello Cucinelli will close the 2024 financial year with a turnover growth of 12.2 percent compared to the previous year. The company also expects continued growth in 2025, according to a press release.

Summary

  • Brunello Cucinelli reports a strong turnover increase of 12.2 percent in 2024, to a total of 1.278 billion euros.
  • There was growth in all regions, with particularly strong performances in the Americas (17.8 percent) and Asia (12.6 percent).
  • The company invested €108 million in expansion, including new stores, headquarters improvements and AI-driven website innovations, and expects continued growth in 2025 and beyond.

Brunello Cucinelli: financial performance fiscal year 2024

Brunello Cucinelli’s total turnover amounted to 1.278 billion euros, spread over several regions that performed well. Europe saw a growth of 6.6 percent, America a plus of 17.8 percent and Asia an increase of 12.6 percent.

Turnover from Brunello Cucinelli’s own stores (retail) grew by 14 percent to 851.2 million euros, which amounts to almost two-thirds of total turnover. Wholesale turnover, from points of sale that offer the collection, increased by 8.8 percent to 427.2 million euros.

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Brunello Cucinelli SS25 Credits: Launchmetrics/spotlight

Brunello Cucinelli invests before 2025

The press release shows, among other things, that the company invested a total of 108 million euros in further growth in the 2024 financial year. This investment went, among other things, to the expansion of the head office in Solomeo, new stores (the Italian fashion group’s retail network grew to 130 boutiques worldwide, four new stores since June 2024) and improved production capacities in Italy.

Brunello Cucinelli also focuses on artificial intelligence (AI). For example, a press release underlines the success of the new AI-based website, launched in July 2024. This development received favorable responses from experts in the field of artificial intelligence and e-commerce, the company said.

Despite a debt of 105 million euros and a dividend paid out of 66 million euros, Brunello Cucinelli is in a strong position. “We expect healthy and sustainable growth of 10 percent in 2025 and 2026,” predicts Cucinelli. The Italian fashion group concludes that its success is due to its focus on exclusive designs, high quality and craftsmanship.

Brunello Cucinelli, Executive Chairman and Creative Director, concludes: “We are extremely pleased with our performance in 2024. Thanks to high-quality sales, we also expect excellent profit results.”

Source: fashionunited.nl