Italy's Brunello Cucinelli expects 28% net sales growth in FY22

The value of product exclusivity and positioning, and the refined sobriety in taste, were elements of absolute value that were particularly appreciated by end customers in FY22, the company said in a press release.

The growth in sales in fiscal 2022 also benefited from a higher demand for luxury goods than supply; evidence of which was strong throughout the year.

Brunello Cucinelli has been able to and will be able to meet demands because, during the two-year pandemic, the company decided not to lay off anyone, totally preserving production and distribution structures not only numerically but also maintaining the natural vocation for growth, the company further stated.

Some production chains were interrupted due to a lack of components or labour.

An aspect that the company considers of considerable importance, in relation to the quality of sales, concerns the balance of distribution channels (retail, wholesale and online), of geographic area (Italy, Europe, the Americas, and Asia), of product categories, and in the balance of supply between women's and men's collections. Brunello Cucinelli believes that there continues to be great opportunities for men's clothing, which is increasingly oriented towards stylistic research aimed at embracing the essential elements of modern, refined, and chic elegance.

The company expects a sales growth of around 10 per cent or more for 2024, which it believes will make it possible to achieve in 2024 ahead of time that doubling of sales, planned in the 2019-2028 10-year plan.

Brunello Cucinelli’s targets include a commitment, over the 2019-2028 10-year plan, to reduce greenhouse gas emissions by 60 per cent in terms of economic intensity, and in absolute terms by 70 per cent for scope 1 and 2 emissions and 22.5 per cent for scope 3 emissions, with the achievement of net zero by 2050.

Fibre2Fashion News Desk (DP)