Revenues at Brunello Cucinelli rose 12.7 % at fixed trade charges within the first 9 months of the 12 months, pushed by double digit progress within the Americas and in Asia, the Italian luxurious group stated on Thursday.
As international demand for luxurious items slows, the Italian group retains rising, helped by its concentrate on higher-end customers and by a extra restricted publicity to China in comparison with its rivals.
Within the third quarter itself, revenues rose 9.2 % to 300 million euros ($325 million), a contact above a consensus of 298 million euros cited by Equita analysts.
Gross sales additionally grew within the Chinese language market within the three months ending in September, the corporate added.
The posh model, greatest recognized for its cashmere clothes, confirmed its expectations for a gross sales improve of round 10 % for 2024 and the next years.
“With the substantial orders already positioned for the Males’s and Ladies’s Spring-Summer season 2025 gross sales marketing campaign, we are able to reaffirm our plans for wholesome, sustainable progress, projecting a income improve of round 10 % for each 2025 and 2026,” Government Chairman Brunello Cucinelli stated in a press release.
Earlier this week French luxurious big LVMH reported a 3 % fall in third-quarter gross sales as demand in China and Japan weakened.
Reporting by Elisa Anzolin Enhancing by Keith Weir
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