Cucinelli posts rise in Q1 sales, confirms 2022 revenues growth forecast

MILAN Reuters – Revenues at Italian luxury group Brunello Cucinelli rose 19.6 at current exchange rates in the first quarter, as all geographical areas contributed positively to the companys performance, it said in a statement on Wednesday.

The fashion brand, which posted revenues of 196.9 million euros 214.15 million in the JanuarytoMarch period, said that international markets reported their best first quarter on record and that “the retail channel showed extremely positive sellouts for the Spring Summer 2022 collections.”

Based on the performance in the first part of the year, the company confirmed its estimates of a revenue growth of around 12 and 10 for 2022 and 2023, respectively.

The company added that the conflict between Russia and Ukraine had no impact on its “fully Italian supply and production chains.”