MILAN — Lifted by growing sales around the world and a strong performance of its retail network, Brunello Cucinelli SpA’s preliminary revenues in the first half of the year were up 13.9 percent to 200.3 million euros, or $234.3 million, compared with 175.8 million euros, or $240.8 million, in the same period last year.
Dollar amounts are converted at average exchange for the periods to which they refer.
“The first half of this year has ended with ‘excellent’ results. Wherever we had the chance to present our collections, they were always met with appreciation for the quality, craftsmanship, contemporary character and exclusivity (a paramount factor) of the product,” said chairman and chief executive officer Brunello Cucinelli. “Considering the quality of sales and the excellent start of our winter collections in the stores, we envisage a ‘beautiful’ 2015.”
Cucinelli said based on the performance of the men’s wear spring 2016 collection, he expected “good prospects for 2016.”
In the six months ended June 30, sales in international markets gained 17.1 percent.
Revenues in North America rose 25.8 percent to 69.7 million euros, or $81.5 million, representing 34.8 percent of the total. Growth came from the group’s existing boutiques in addition to five new stores that opened over the past year. A boutique in New York opened in March 2015. As of June 30, there were 21 monobrand boutiques in the U.S.
In Europe, sales increased 5.3 percent to 63.2 million euros, or $74 million, representing 31.6 percent of total, lifted by consumer spending in main cities and resorts. Five boutiques opened in the first six months of the year, including directly operated units in Montecarlo and Paris.
The company cited solid sales in Russia and additional growth of top-end Asian consumers in exclusive locations.
Revenues in Greater China rose 14.5 percent to 11.9 million euros, or $14 million, accounting for 5.9 percent of total. “In line with changes seen in the first quarter, the first half of 2015 saw an effective “normalization” in the growth trend, with the increase in revenues being driven by the performance of the existing network whose number has remained unchanged over the past 12 months,” said the company.
Growth was reported in both Mainland China and other areas of greater China, including Hong Kong. As of June 30, there were 19 boutiques in greater China, unchanged compared with the year before.
In the Rest of the World, sales jumped 36 percent to 18.7 million euros, or $21.8 million, representing 9.3 percent of total, affected by the conversion of Cucinelli’s business in Japan to directly operated stores from Sept. 1 last year.
As of June 30, there were 12 boutiques in the area, with the only opening over the past 12 months taking place in Singapore in January.
Revenues in Italy rose 1.8 percent to 36.9 million euros, or $43.1 million, representing 18.4 percent of total, boosted by a strong performance in leading cities and resorts.
Retail sales rose 36 percent to 84.8 million euros, or $ 99.2 million, accounting for 42.3 percent of total.
Full first-half figures will be reported on Aug. 26.