Brunello Cucinelli reports 2012 sales, in line with expectations

Italian luxury house of Brunello Cucinelli, known for its cashmere apparel reported today preliminary sales rose 15 percent to 279 million euros ($364 million) in 2012, in line with analyst expectations. European luxury goods makers have been able to shrug off the euro-zone debt crisis as they tap into demand from newly-rich Asian tourists. Brunello Cucinelli also reports a significant reduction of debt from 48 million euros in 2011 to 1 million euros in December 2012.

Brunello Cucinelli mono-brand store, Bucharest, Romania