Italian luxury label Brunello Cucinelli announced on Tuesday a 35 percent uptick in sales to EUR 265.3 million (USD 290.69 million) for the first quarter, on the back of surging double-digit sales growth in Asia.
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Cucinelli Asia revenues grew 56 percent to EUR 74.3 million, attributing to 28 percent of the company’s total sales for the quarter, with China proving a “primary development opportunity” for the company, “further improving the growth trend it had already announced for 2022,” it added.
In the first part of the year, China brought a “great result” for the brand, compounded by “the positive impressions and confident comments gathered from our teams as well as from multi-brand customers and our landlords.”
The company noted “Chinese customers are attentive and sensitive to brands with a very high positioning, an expression of very high quality, craftsmanship and sophisticated elegance.”
“Our wish for the coming years is therefore to be able to see a domestic market develop and consolidate, supported by the quality of the service offered to customers by our staff, the breadth of our offer, and a pricing policy that we would like to define as fair and consistent, which our brand particularly cares about,” said Brunello Cucinelli, executive chairman and creative director of Brunello Cucinelli.
Looking ahead, the company said it predicts 15 percent in total growth for the current year 2023.