Brunello Cucinelli reports 67% growth in profits for 2011
Ahead of its IPO on Milan’s stock exchange this year, Italian luxury ready to wear house specialize in cashmere, Brunello Cucinelli reports an 18% increase in its turnover for 2011, compared to 2010, which was at the level of 103 million euros. Founded in 1978 and with 710 employees, Brunello Cucinelli has 59 mono-brand boutiques worldwide and plans further expansion in Asia and South America.
In 2011, the company made investments of 16 million euros, especially in its own production facilities, Brunello Cucinelli having proven recession proof thanks to its heritage Made in Italy and the decision in the early 2000 to develop a complete range of products for a ”total look”.
In 2010, Brunello Cucinelli launched its online store which is operated by leading Italian luxury e-tailer Yoox which also manages brands such as Emporio Armani and Zegna.