Luxury Figures

A record year ahead for Brunello Cucinelli

Brunello Cucinelli, the Italian philanthropic entrepreneur who is highly regarded for his ethical commitment, has come out of his usual reserve and is anticipating a record year for the brand.

Eva Morletto

By Eva Morletto01 septembre 2022

Brunello Cucinelli has always built its brand image around ethical commitment (Shutterstock)

The Italian luxury brand Brunello Cucinelli has announced a turnover for the first half of the year up +32% compared to the same period last year, with total sales reaching 415.4 million euros and net profits more than doubling (+ 131.4% to 50.6 million euros). The Umbrian entrepreneur even anticipates a year of continuous growth in 2023, since the sales already recorded for the autumn/winter collection and those received for the spring/summer 2023 collection will allow the Italian brand to post a further growth of 10%; the overall sales figure will thus very probably exceed 900 million euros, bringing the brand closer to the very small group of one billion companies in the field of made-in-Italy luxury goods, which includes Prada, Armani and MaxMara.

According to its owner, 90% of the brand's success is based on exports, favoured by a dollar that has continued to strengthen recently, and on a network of boutiques around the world, as the brand has little online presence.

Several highlights marked the company's agenda in 2022, including the acquisition last March of 43% of the shares of the historic Cariaggi wool factory, thus enabling the brand to further strengthen its strategy of highlighting excellent craftsmanship and traditional know-how.

Brunello Cucinelli, also a visionary patron of the arts, has always built the image of his brand around a commitment to the environment, to pay equity, to the well-being of workers and to the fight against discrimination. In this regard, a few weeks ago, Brunello Cucinelli wrote an open letter addressed to the "wise men of humanity", and evoked a strong stand against war and underlined the global stakes, while inviting the institutions to take adequate measures.

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