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Age : 68
Public asset : 1,802,210,011 USD
Linked companies : Brunello Cucinelli S.p.A.
Biography : Founder of Brunello Cucinelli SpA, Progetto Digitale Srl and Brunello Cucinelli Hong Kong Ltd., Brunello Cucinelli presently is Executive Chairman for Brunello Cucinelli SpA, Chairman at Teatro Stabile dell'Umbria and Chairman & Chief Executive Officer at Fedone Srl. Mr. Cucinelli is also on the board of Fondazione Altagamma, Cashmere Paris SARL, Cucinelli Brunello Europe SRL and Parmenide SRL and Chairman of Foundation Brunello Cucinelli.

Luxury group Cucinelli posts 31% sales jump in 2021

01/10/2022 | 12:39pm EDT
FILE PHOTO: Logo of Brunello Cucinelli is seen on a door at their company headquarters in Solomeo village, near Perugia

MILAN (Reuters) - Italian luxury group Brunello Cucinelli posted on Monday a 31% increase in 2021 revenue at current exchange rates, in line with its latest guidance and a touch above market expectations, after the pandemic triggered a 10% drop in 2020.

Last month the fashion house raised its 2021 sales guidance for the fourth time in a year to growth "close to 30%" and reiterated expectations for "nice, healthy and balanced growth of around 10%" in both 2022 and 2023.

The brand known for cashmere clothing confirmed the targets for coming years despite mounting global fears for the new wave of COVID-19 infections.

Net sales totalled 712 million euros ($806.3 million) last year, a 17% increase compared to 2019 sales, before the Covid pandemic.

Analysts had expected sales of 703 million euros in 2021, according to Refinitiv SmartEstimate.

($1 = 0.8831 euros)

(Reporting by Claudia Cristoferi; Editing by Jan Harvey)

ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRUNELLO CUCINELLI S.P.A. 2.48% 48.72 Delayed Quote.-21.68%