Brunello Cucinelli Q1 revenues rise 5.1%
The group attributed the performance to a 28.9% spike in its Asia revenues
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Brunello Cucinelli, the luxury fashion brand, saw its revenue for the first quarter of FY21 grow 5.1% year-on-year at current exchange rates to £143m.
The group attributed the performance to a 28.9% spike in its Asia revenues, while Europe also grew 3.9% when compared to the three months to 31 March 2020.
Despite the positives, Brunello Cucinelli saw revenues fall 4.8% in the Americas and 3.6% in Italy, where the brand was formed.
Cucinelli, executive chairman and creative director at the company, said: “It is with a feeling of ‘great positivity’ that we disclose our results achieved in the first quarter of this year 2021, which we have defined as the ‘year of rebalancing’.
“It was a very, very positive quarter, which indicates a gradual return to ‘normality’ in daily life, with a strong desire for healthy planning.”
While the fashion group’s wholesale distribution channel saw a 0.4% increase in revenues, its retail operations spiked 11.5% for the quarter.
Cucinelli added that the firm envisages a year ahead with “excellent growth in turnover between 15% and 20%”, as well as “a healthy increase in sales” for 2022.
