The company's EBIT stood at €187.4 million, up 39.4 percent from €134.4 million at the end of December 2022, and the EBIT margin improved to 16. 4 percent from 14.6 percent in the last year. This growth was supported by positive contributions from all markets, with growth in the Americas (up 21 percent), Europe (up 17 percent) and Asia (up 40 percent). The revenue split was well balanced between regions, with Europe accounting for 38 percent, the Americas 35 percent and Asia 27 percent, the company said in a news release.
Italian company Brunello Cucinelli reported a 42 percent increase in its net profit to 123.8 million euros ($134.8 million) in fiscal 2023. Revenue rose 23.9 percent to 1,139 million euros ($1.24 billion), driven by growth in the Americas, Europe and Asia. . The company's EBIT increased by 39.4 percent to €187.4 million. Both the retail and wholesale channels experienced growth.
Both the retail and wholesale channels experienced growth, with retail sales growing by 30 percent and wholesale sales by 13 percent. The retail channel contributed 65 percent of total revenue, including around 10 percent achieved within international luxury department stores, while the wholesale channel accounted for 35 percent of revenue.
“A particularly noble and beautiful year for our fashion house has come to an end: we achieved a 23.9% increase in turnover and a 42% increase in net profit. “It has been a year in which we obtained flattering international recognition both for our designs and for our special vision of work, and which led us to define our style,” he stated. Brunello Cucinelli, executive president and creative director of the fashion house.
Fiber2Fashion News Desk (DP)
