Brunello Cucinelli revenue increases 30.9% for 2021
Luxury Italian fashion brand Brunello Cucinelli has announced its 2021 preliminary results, revealing a 30.9% increase in net revenues totalling €712 million.
Looking at the brand's revenue by region, revenue increased 26.5% in Europe, 36.7% in the US, 32.9% in Asia and 23.2% in Italy. Retail sales rose by 56% to €419.32 million and wholesale sales by 6.3% to €292.7 million.
Brunello Cucinelli credits its growth to the loyalty of end customers, as well as the presence of new customers. The brand described 2021 as "a year considered among the best in its history".
Founded in 1978, Brunello Cucinelli currently operates 114 boutiques, compared to 107 in 2020. The brand's new boutique in London on New Bond Street is part of the openings carried out between 2020 and 2021.
The report also revealed the brand's sustainability targets, which includes a new commitment to reducing 60% of its greenhouse gas emissions in terms of economic intensity by 2028, in absolute terms by 70% for scope one and two emissions and by 22.5% for scope three.
Brunello Cucinelli, Executive Chairman and Creative Director of Brunello Cucinelli, said: “This year 2021 has been one of the best for our Casa di Moda. We have achieved some important results both in terms of economics and image worldwide, which has led us to call this time the year of rebalancing.
"The Spring Summer 2022 collections and the Fall Winter 2022 pre-collections received great appreciation from both buyers and the international press. Building on these results, we imagine a fine, gracious and balanced growth of around 10% for the current year. There is no doubt that all this allows us to work with healthy focus and dedication, envisaging a bright future for our "Casa", for the territory and the next generations.”
The financial results follow the cancellation announcement of Bruno Cucinelli's Pitti Uomo show in Italy this month.