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Brunello Cucinelli updates outlook after 'outstanding' year

Katie Ross
12 December 2024

Shares in Italian luxury brand Brunello Cucinelli have risen by over 6% following an upgrade to its full-year sales growth forecast.

The brand has predicted a turnover increase of between 11-12% for the year, exceeding its initial expectations of 10% and reflecting strong performance, particularly in the US and China.

It said that its 2024 results exceeded initial expectations due to "outstanding sales in recent weeks", enabling them to suggest Q4 growth in line with Q3 performance.

For the first nine months of 2024, sales were up 12.4%, and the company expects a 9% growth rate in the fourth quarter.

Sales in the US have been buoyed by a post-election surge in demand for high-end goods, especially among ultra-luxury consumers.

The brand's Chinese sales continue to grow at a strong pace of 10-12%, supported by its appeal to ultra-high-net-worth individuals and relatively low market competition.

Growth in Europe and the Middle East remains steady, projected between 5-7% for the full year.

The brand presented its AW25 women's pre-collection in November, which received positive feedback from multi-brand customers and boutique managers. This follows strong pre-orders for the SS25 collection, reinforcing confidence in future sales.

Looking ahead, the company has maintained its outlook for 10% annual sales growth in 2025 and 2026.

To support the outlook, the brand has devised an investment plan, envisaging a substantial increase in production and capacity. It has formulated plans for three new factories in Italy, in Penne, Abruzzo and Gubbio.

Brunello Cucinelli, Executive Chairman and Creative Director, said: "As 2024 draws to a close, we can describe it as a "truly enchanting" year, marked by the noteworthy achievements of our Casa di Moda, both in terms of financial performance and the strengthening of our brand's image. Our final project leads us to envision a year with growth ranging between 11% and 12%.

"The strong sell-out performance of our Fall/Winter 2024 collections and the excellent results from the beginning of the order intake for the Women's Fall/Winter 2025 collections give us great confidence for 2025. We look forward to continuing our customary annual revenue growth of approximately 10% alongside healthy profitability."


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