BRIONI reports healthy profit for 2010 and expands into casual wear
Former CEO and direct descendant of the founder family, Andrea Perrone, now back at the helm of BRIONI, the Italian luxury suit maker, announced this week a profitable 2010, with a total of 230 million euros turnover and an operating profit of 32 million euros.
Andrea Perrone, 39, stepped down from the CEO position at the end of 2010, during intense discussions with several hedge funds for a partial sale of the company. Perrone attributes the positive results to the company’s strategic retail expansion in Eastern Europe, Russia, Middle East, China and India.
Earlier this month, BRIONI introduced its first ever T shirt, a symbolic move considering the brand’s casual line has grown to 30% of the overall business, however, Perrone insists the traditional luxury formal suits and the Italian savoir faire remain part of the DNA of the brand.