Double digit growth for Brunello Cucinelli in the first half of 2014

Italian luxury cashmere specialist Brunello Cucinelli forecast double-digit growth in earnings and sales both this year and next, after its net profit rose 18 percent to 15.6 million euros in the first half of 2014.

“The data and, more in general, the mood in the absolute luxury segment prompt us to envisage next year as another year enjoying excellent results of double-digit healthy growth,” the company said in a statement.  Cucinelli said the shares of sales in the retail channel rose to 35.5 percent of the total from 32.2 percent helped by store openings.

Cucinelli also mentioned robust flows of wealthy tourists in Europe, where sales rose 9.5 percent. That compares with growth of 18.2 in North America and 43.5 in Greater China, which only accounts however for 6 percent of total sales.

Brunello Cucinelli, Fall Winter 2014 Men’s