MILAN (Reuters) – Revenues at Brunello Cucinelli rose 12.7% at constant exchange rates in the first nine months of the year, driven by double digit growth in the Americas and in Asia, the Italian luxury group said on Thursday.
As global demand for luxury goods slows, the Italian group keeps growing, helped by its focus on higher-end consumers and by a more limited exposure to China compared to its rivals.
In the third quarter itself, revenues rose 9.2% to 300 million euros ($325 million), a touch above a consensus of 298 million euros cited by Equita analysts.
Sales also grew in the Chinese market in the three months ending in September, the company added.
The luxury brand, best known for its cashmere clothing, confirmed its expectations for a sales increase of around 10% for 2024 and the following years.
“With the substantial orders already placed for the Men’s and Women’s Spring-Summer 2025 sales campaign, we can reaffirm our plans for healthy, sustainable growth, projecting a revenue increase of around 10% for both 2025 and 2026,” Executive Chairman Brunello Cucinelli said in a statement.
Earlier this week French luxury giant LVMH reported a 3% fall in third-quarter sales as demand in China and Japan weakened.
($1 = 0.9228 euros)
(Reporting by Elisa Anzolin; Editing by Keith Weir)
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