Brunello Cucinelli on track with expected 15 increase in profits and turnover of 280 million euros
Italian luxury house of Brunello Cucinelli which made its IPO debut on the Milan stock exchange confirms the company is on track with its estimated turnover of 280 million euros for 2012, compared to 243 in 2011 and a 15 percent growth in ebitda, to 50 million euros. The IPO has contributed to the decrease in its debts, from 50 million euros to 14 million euros.
In terms of product categories, accessories have been a growing segment, representing already 14% of the company’s turnover. Geographically, Brunello Cucinelli’s largest market remains Europe – 32,5% of its turnover, followed by Italy (27%), the U.S. (26,2%) and rest of the world (9,6%). China presently accounts for only 4% of Cucinelli’s turnover.
The company pledges to pursue its investments in manufacturing, craftsmanship and Made in Italy making up its ”absolute luxury” positioning. By 2020, Brunello Cucinelli aims to achieve a turnover of 500 million euros.