Brunello Cucinelli grows 8.6% and earns 4% more in 2019
The Italian fashion company focuses its growth on the European market and ensures that the coronavirus crisis will be temporary. The company grew by 8.6% and increased its profit by 4% in 2019.
Brunello Cucinello continues to rise. The Italian fashion company has grown by 8.6% and has increased its profit by 4% at the end of 2019. The final figure has fallen short of the company’s forecasts, which were set at 9% growth.
The company has reached sales of a total of 607 million euros (686 million dollars), compared to 553 million euros (625 million dollars) recorded the previous year. For its part, profit has increased 4%, from 51 million euros (58 million dollars) to 53 million euros (60 million dollars) at the end of 2019.
By market, Europe tops the leads in terms of revenue, from 163 million euros (184 million dollars) to 184 million euros (208 million dollars) this year, a double-digit increase. It is followed by the North American market with a 9% increase in revenue, up to 204 million euros (231 million dollars).
China, although it occupies the last position on the list by volume, has been the market in which the company has obtained the highest annual growth, which has recorded a 14.6% increase compared to the previous year, up to 70 million euros (79 million dollars) in the country.
Brunello Cucinelli has reached sales of 686 million dollars and has made a profit of 60 million dollars
Cucinelli has also assessed the impact of the coronavirus, conveying the certainty that it will be somewhat temporary and that it is already ending. The company has its production in the Umbria region, as well as in Marche and Tuscany, concentrating a total of 364 small producers who employ 5,000 people.
“The outbreak is temporary so it should not impact our four-year plan, at the moment, the first quarter is in line with last year,” Cucinelli confirmed during the conference with analysts.
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