Brunello Cucinelli defied luxury’s softening in 2023

1 year ago 39

Brunello Cucinelli, the Italian brand that has become synonymous with quiet luxury, had a standout year in 2023.

According to a brand statement on Monday, Brunello Cucinelli’s revenue surpassed €1.1 billion ($1.2 billion), a milestone achieved five years ahead of a 10-year plan set in 2019, which aimed to double the company’s sales from €555 million by 2028.

The final quarter of 2023 was particularly strong, yielding the company’s highest-ever quarterly sales at €321 million ($351 million), a 15.6% increase from the previous year. This growth is noteworthy considering the 32% overall revenue growth, including a 53% boost in the wholesale channel, in the same quarter of 2022. For the year ending December 31, 2023, the brand’s total revenue rose 23.9% to €1.14 billion ($1.24 billion).

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