Brunello Cucinelli, the luxury Italian fashion brand, has reported a 9.4 percent revenue increase to EUR502.6 in the third quarter of FY21 that ended on September 30th 2021. This compares with sales of EUR459.2 in the same period in FY19 and a 32.7% increase over 2020. According to the company, the growth was due to both sales channels. Europe, Americas, and Asia all contributed to the acceleration.
“The first nine-months of the year went very well. The autumn winter 2021 collection is proving to be very successful around the world and we see a strong desire everywhere to return to physical shops. Just a year before, we could not have imagined this kind of success. We can now imagine that the current year will be ending with a 25 percent increase in revenue compared to the previous year.
The sales from the European market increased by 14 percent to EUR151.4 millions in 2019. In recent weeks, the luxury brand has seen a significant increase in traffic. This is in line with the growth of regional tourism and the arrival of new international customers from North America. The sales from Italy are still 6.9% below their 2019 levels, indicating a rise in domestic demand in the absence a significant recovery of tourism.
The American market, meanwhile, showed solidity with a steady growth of 37.4% to EUR161.3 millions compared to 2019. The Asian market has also shown a good recovery with a sales increase of 18.0 percent to EUR119.0 millions.
Retail sales increased by 15.6% to EUR264.8million, while wholesale sales increased by 3.3 percent to EUR237.7million.
