MILAN — A rise in global exports and growth in all its sales channels lifted Brunello Cucinelli SpA revenues in the first six months of the year. In the period ended June 30, the Italian luxury firm posted preliminary revenues of 175.8 million euros, or $239 million, up 11.6 percent compared with 157.6 million euros, or $206.4 million, in the same period last year.
“We are really proud of the way our industry is performing. We have the impression that at a global level a clear-cut distinction is emerging between products strongly exhibiting quality, exclusivity, manual work and recognizability — clearly expensive products — on the one hand, and other well-made industrially manufactured products that are manufactured anywhere else in the world and sold at a convenient price on the other hand,” said Brunello Cucinelli, chairman and chief executive officer. “We therefore keep supporting and investing strongly in our uniqueness and in the recognizability of Made in Italy.
“Given the time of the year, the orders that have already been placed and the quality of the sales, we can envision another special year with a double-digit growth in terms of both revenues and profitability.”
The entrepreneur highlighted a perception of “important signs that point to an economic recovery of our country, but also to a moral, civil, spiritual and political one.”
In the first half, exports grew 15 percent and accounted for 79.4 percent of revenues.
The North American market rose 18.2 percent to 55.4 million euros, or $75.3 million, representing 31.5 percent of total sales.
Revenues in Europe climbed 9.5 percent to 60 million euros, or $81.6 million, accounting for 34.2 percent of total sales, lifted by a dynamic top-end tourist flow.
Greater China grew 43.5 percent to 10.4 million euros, or $14.1 million, representing 5.9 percent of total sales. The performance was boosted by the conversion of wholesale boutiques to directly operated units, including three in Hong Kong in the past 12 months. At the end of June, the group counted 19 boutiques in Greater China.
Sales in the Rest of the World rose 10.3 percent to 13.7 million euros, or $18.6 million, representing 7.8 percent of total sales. The company recently opened boutiques in Seoul and São Paulo, which it cited as an important reference point for the domestic customer and a starting presence for future growth in the Brazilian market.
Italy inched up 0.2 percent to 36.3 million euros, or $49.3 million, representing 20.6 percent of total sales. The company noted a pickup in the trend of sales locally in the first half of the year, bolstered by the results of the monobrand boutiques and orders in the multibrand channel. It also pointed to a “large flow of foreign tourists.”
Dollar amounts are converted at average exchange for the periods to which they refer.
The retail monobrand channel rose 22.9 percent to revenues of 62.4 million euros, or $84.8 million, representing 35.5 percent of total sales.
The wholesale monobrand channel grew 6 percent to 21.8 million euros, or $29.6 million, accounting for 12.4 percent of total sales.
The multibrand sales channel increased 6.3 percent to 91.6 million euros, or $124.5 million (52.1 percent of total sales).
Full financial reports for the first six months of the year will be released on Aug. 27.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)