Italy’s Brunello Cucinelli announced on January 9 record-breaking total revenues for the full-year 2022, on the back of solid sales growth across all geographical areas, including Asia.
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For the twelve months ending December 31, total revenues reached EUR 919.5 million (USD 986.9 million), compared to EUR 712.2 million in 2021, up 29.1 percent.
By region, Asia sales soared 28.1 percent to EUR 218.4 million, accounting for 23.8 percent of sales in 2022, compared to EUR 170.6 million in 2021.
The company said it witnessed double-digit growth in China during the twelve months, adding that the “result is not only related to the quantitative contribution to sales but testifies to the growing appeal of our brand in China, with a very interesting prospective value.”
“We think that the relevance of the no-logo and ready-to-wear offerings is definitely increasing in China, and we are delighted to see an increasing number of customers coming into our stores looking for both specialty garments and somewhat more everyday clothing,” the house said in a press release.
“We also notice in China an increasingly pronounced focus on the idea of humanistic capitalism and the values of human sustainability, gracious growth and the search for the right balance between profit and gift. The very concept of living in harmony, which inspires us to radically rethink humankind’s relationship with nature, we imagine may in fact find some connection with Confucian thought, emphasizing a contemporary dialogue between peoples,” it added.
Cucinelli highlighted “the contribution” from Japan, as well as from South Korea and the Middle East, “which are accelerating their relative growth trends,” describing these as “excellent.”
Elsewhere, the fashion house’s local market grew 21.8 percent, while its Europe (excluding Italy) sales increased 20.4 percent and Americas revenues surged 40.5 percent to EUR 334.7 million.
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“The considerable orders in the portfolio of the Spring/Summer 2023 collection and the extraordinary start of the Fall/Winter 2023 sales campaign lead us to envisage an excellent year, with a forecast for a fine growth of around 12 percent and consequently the achievement of a relevant goal, namely EUR 1 billion in turnover,” added Brunello Cucinelli, executive chairman and creative director of the namesake company.