Brunello Cucinelli’s Greater China sales up 34 per cent
Brunello Cucinelli’s Greater China sales, up 34.6 per cent, outshone all other markets for its first half.
North America sales grew 9.4 per cent, Europe 9.9 per cent and rest of the world 11.4 per cent, the Italian luxury goods maison’s preliminary figures show.
First-half net revenues grew overall by 10.7 per cent to €243.3 million (US$278.9 million).
For Greater China revenues reached €18.4 million, up 7.5 per cent from €13.7 million for the same period last year. To maintain allure and exclusivity, says the company, it is maintaining a limited presence in the region.
Brunello Cucinelli’s retail distribution channel saw an overall 21.7 per cent growth in sales, or €121.1 million compared to €99.6 million for the same period last year..
As at the end of June, the brand’s network comprised 91 direct boutiques, with just one opening over the 12 months.
“We feel that this year is the start of a ‘new world’ where the internet will have an enormous impact on humanity,” says chairman/CEO Brunello Cucinelli. “We believe this will change buyer/seller relationships forever, making it even more important to care for and protect the brand.”
The brand’s online boutique is being directly managed from its headquarters in Solomeo with special attention to customer service, packaging and visual merchandising.
“If we take a look at the general context and at the very good start of the second half of the year,
We feel pretty confident that the full year will deliver double-digit growth in terms of both sales and margins,” says Cucinelli.