HOME AWAY: A kitchen in the window of a luxury fashion store on Via Montenapoleone? You bet — care of Brunello Cucinelli. The scenographic set is part of the new store concept unveiled by the Italian entrepreneur for the brand’s new flagship on Milan’s tony shopping street.
Due to officially open on Saturday, the venue is conceived as a home and is dubbed Casa Cucinelli. Sofas, armchairs, antique doors and wood in natural hues contribute to the mood. Tea is served as part of the welcoming service. The boutique replaces a previous store on Via Spiga, which has been closed.
The clothes are displayed on the first and second floors, while the windows will be changed every season.
Revenues at the group’s monobrand stores globally rose 17.1 percent to 226.3 million euros, or $249 million, accounting for 49.6 percent of the total. Like-for-like sales grew 3.9 percent. The company counts 122 monobrand stores.
In a separate development, the Ermenegildo Zegna Group has sold its 3 percent stake in Brunello Cucinelli. The Italian men’s wear powerhouse had first invested in Cucinelli upon the listing of the latter in 2012. Reached by WWD, in a statement the Zegna group underscored how it “was among the first to believe in” Cucinelli’s IPO. “Proven right” in this decision, the results contributed “to strengthen the industrial relations between the two companies and the personal ones between the two families.” Zegna said the decision to sell the shares stems solely from the group’s “different orientation of financial strategies.”
Zegna sold 2.06 million shares at 21.09 euros, or $22.61, cashing in 43.4 million euros, or $46.5 million at current exchange rate.