Italian luxury fashion brand Brunello Cucinelli has announced preliminary revenue of €620.7 million (approximately $676.03 million) for the first half of fiscal year 2024 (H1 FY24). This represents significant sales growth, up 14.1% at current exchange rates and 14.7% at constant exchange rates compared to the first half of fiscal year 2023.
Brunello Cucinelli reported preliminary revenue for the first half of fiscal year 2024 of €620.7 million (approximately $676.03 million), up 14.1% at current exchange rates from the first half of fiscal year 2023. Revenue in Europe increased by 9%, in the Americas by 19.4% and in Asia by 14.3%. Retail revenue increased by 14.7% to €395.2 million, while wholesale revenue grew by 13.1% to €225.5 million.
In Europe, revenue was €221.1 million, reflecting a 9 percent increase over the first half of fiscal year 2023 and representing 35.6 percent of total revenue. In the Americas, revenue increased by 19.4 percent, reaching €225.6 million and representing 36.4 percent of overall revenue. In Asia, sales grew by 14.3 percent to €174 million, representing 28 percent of the company's total revenue, the company said in a press release.
The retail channel showed impressive growth, with revenues of €395.2 million, up 14.7 percent compared to the first half of fiscal year 2023, and accounting for 63.7 percent of total revenue. The wholesale channel also performed well, with revenues of €225.5 million, up 13.1 percent compared to the first half of fiscal year 2023, and contributing 36.3 percent of total revenue.
“The first half of the year closed with excellent results in terms of turnover and, given the quality of sales, we expect the same in terms of earnings. We believe that the brand is experiencing very positive momentum in terms of global image. This leads us to confirm our projected sales growth for fiscal year 2024 of around 10 percent, as well as adequate earnings,” he said. Brunello Cucinelli, CEO and creative director of the fashion house.
Fibre2Fashion (DP) Press Desk
