MILAN — Driven by gains in the U.S., Europe and Greater China, Brunello Cucinelli SpA said net profit in the first nine months of the year climbed 10.2 percent, totaling 23.5 million euros, or $30.8 million, compared with 21.3 million euros, or $27.2 million, in the same period last year — a normalized net profit that did not include the non-recurring costs incurred in listing the company on the Milan Stock Exchange.
This story first appeared in the November 13, 2013 issue of WWD. Subscribe Today.
In the period ended Sept. 30, revenues rose 14.3 percent to 251.7 million euros, or $329.7 million, compared with 220.2 million euros, or $281.8 million, in the first nine months of 2012.
Dollar amounts are converted at average exchange rates for the periods to which they refer.
Brunello Cucinelli, the group’s chairman and chief executive officer, said: “We are really pleased with the performance reported by our company over the first nine months of the year; results in economic terms are particularly interesting and we therefore envisage a very positive 2013.” The entrepreneur added that spring/summer 2014 orders went “really well,” and that he felt the brand was “reaping, step by step, the fruit of major investments in the image of a company operating in the so-called absolute segment of world luxury, whilst at the same time respecting craftsmanship, quality and, hopefully, creativity as well as manufacturing the typical products of our cultural heritage entirely in Italy.”