MILAN — Brunello Cucinelli SpA closed the year of its initial public offering with an increase in profits and sales.
Expansion at both the retail and wholesale channels outside Italy helped the luxury firm increase net profits by 26.2 percent to 26.5 million euros, or $34 million, excluding nonrecurring costs related to the IPO, and compared with profits of 21 million euros, or $29.2 million, in 2011. Costs related to the IPO totaled 6.2 million euros, or $8 million, and were incurred as part of the listing process.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)