Luxury Brand Brunello Cucinelli 2019 Sales Growth In The First Half Of 8.1%

In July 11th, Italy luxury group Brunello Cucinelli SpA (Bunero Guchirali) announced the key financial data in the first half of fiscal year 2019. Sales in spring and summer series were particularly outstanding, and the autumn and winter series started very positively. The group is confident of annual growth.

As of June 30, 2019, Brunello Cucinelli group's net sales amounted to 291 million euros, an increase of 8.1% over the same period, and increased by 7.2% according to the constant exchange rate.

Chairman and CEO Brunello Cucinelli expressed satisfaction with the group's performance in the first half of the fiscal year. He said: "our sales in spring and summer series are particularly good, and the start of the 2019 autumn and winter series has also been very positive, all of which foreshadowed another year's gratifying growth in performance. The first order of 2020 spring and summer men's wear and children's wear series released last month also showed a positive development trend. We look forward to the upcoming spring and summer women's clothing conference in the coming 2020.

2019 in the first half of fiscal year, all markets of Brunello Cucinelli group grew steadily.

Italy's domestic market sales increased 1.1% to 44 million 300 thousand euros, or 15.2% of total sales.

Sales in Europe increased 9.6% to 92 million 400 thousand euros, or 31.7% of total sales.

Sales in North America increased 9% to 94 million 100 thousand euros, accounting for 32.3% of total sales.

Sales in the Greater China region increased 15.9% to 28 million 800 thousand euros.

Sales in other parts of the world increased by 5.5% to 31 million 900 thousand euros compared with the same period last year.

Italy's local market focuses on consumption tastes. The group said that Florence's Pitti Uomo men's wear week has just been an important channel for them to contact customers, suppliers and the media, and to understand the local tastes and business changes in the international market.

The growth of the European and North American market is mainly attributed to the steady demand of local market, and the growth of high-end tourism consumption of brand stores and multi brand channels. The Group believes that the distinction between "absolute luxury" and "accessible luxury" is becoming more and more obvious. Luxury department stores are making more room for truly unique luxury products to attract high-end customers. "Two"

In order to better develop the customer relationship in the Chinese market, the group has established a complete local team in China to help the group understand the Chinese market better. At the same time, the team will regularly go to Solomeo headquarters to learn the group culture and values, and transmit it to the consumers in the Chinese market after returning home.

2019 in the first half of fiscal year, Brunello Cucinelli group's channels are as follows:

Sales of single brand retail channels increased by 12% to 150 million euros, or 51.5% of total sales, representing an increase of 3.7% over the previous year, which is mainly driven by the excellent sales performance of the 2019 spring summer series.

Sales of single brand distribution channels increased 1.5% to 18 million 200 thousand euros compared to the same period last year.

Sales of multi brand wholesale channels increased 6.5% to 123 million euros, accounting for 42.3% of total sales.

As of June 30, 2019, there were 102 single brand retail outlets in Brunello Cucinelli group, an increase of 3 compared to the same period last year, of which 2 were added in the second quarter of fiscal 2019.

Brunello Cucinelli also reiterated the concept of "harmonious coexistence of labor and creativity".

In the earnings report, the group held a Solomeo on Soul and Economics (soul and economy Symposium) hosted by the founder of Brunello Cucinelli at the headquarters of Solomeo in late May, including a group of top Silicon Valley entrepreneurs, including the Jeff Bezos (Amazon CEO), the Jeff (former leader), and the leader of the company, including "the 3000th Jubilee of Leonardo".

All participants spent three days together (without cell phones) to gather together to discuss major human issues. Everyone began to recall their lives from childhood, and set up a three month plan, a three year plan and a one thousand year plan for their company.

In April of this year, the 65 year old Brunello Cucinelli showed the idea of retiring from the second line, and will provide advisory support to the company as executive chairman and creative director in the future.

The full 2019 half year financial report of Brunello Cucinelli will be announced in August 28th.