Known for its cashmere products, high-end Italian clothing brand, Brunello Cucinelli has projected a 10 per cent rise in revenues in FY’24.
The brand’s revenues in Q1FY’24 ended Mar ’24 rose by 16.5 per cent to €309 million, driven by growth in all regions, including Asia. The highest rise in revenues of 19.5 per cent was recorded in Americas while revenues in Europe increased by 13.9 per cent. The brand also reported a 16 per cent growth in its sales in Asia.
The brand has received abundant orders for the autumn-winter 2024 collections, reiterating its expectations for 2024 full year with renewed convictions, says Brunello Cucinelli, Executive Chairman.
With the demand for luxury goods slackening, the gap between the performances of different groups is widening, with those focusing on the higher-end consumers tending to perform better.
A profit warning issued by Kering last month shows, a slump in Asia sales of its star label Gucci cast a cloud over its reporting season while quarterly sales at LVMH rose by only 3 per cent.
