Italian luxury cashmere brand Brunello Cucinelli China is growing fast! Sales rose 21.8%
Brunello Cucinelli, an Italian luxury goods group known for high-end cashmere apparel, said recently that with the increase in consumer demand in the Greater China region, the performance of single-brand retail stores has been encouraging and the Group’s 2016 sales have achieved double-digit growth.
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As of December 31, 2016, the Brunello Cucinelli Group:
Sales increased by 10.1% year-on-year to 456 million euros
Net profit increased by 18.8% year-on-year to 39.1 million euros
EBITDA increased by 13.2% year-on-year to 78.2 million euros
Net debt of 51 million euros, consistent with last year
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The Group stated that in 2016, sales of all distribution channels in all regions including single-brand and multi-brand stores have increased.
From the market point of view:
Italian market sales increased by 7.3% year-on-year to 76.2 million euros, accounting for 16.7% of the total
Market sales in other regions of Europe increased by 5.8% year-on-year to EUR 136.4 million, accounting for 29.9% of the total
North American market sales increased 7.1% year-on-year to 167.6 million euros, accounting for 36.8% of total sales
Greater China market sales increased 21.8% year-on-year to 31.4 million Euros, accounting for 6.9% of the total
Other market sales increased by 39.3% year-on-year to 44.4 million euros, accounting for 9.7% of the total
The Group stated that there has been considerable growth in the Chinese mainland market and sales in Hong Kong, Taiwan and Macau are also very optimistic. Consumers in the Greater China region not only increased local consumption, but also traveled to Europe, the United States, Japan, and South Korea. Benefiting from local purchases and tourists shopping, sales in the Japanese market also hit new highs. The Far East market, represented by South Korea, and the Middle East market also showed a "significant optimism." The group previously opened a boutique in Dubai, the Middle East.
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From the distribution channel:
Single-brand retail channel sales increased by 17.1% year-on-year to EUR 226.3 million, comparable sales increased by 3.9%
Single-brand wholesale channel sales increased by 2.4% from the same period last year to 34.2 million euros
Multi-brand wholesale channel sales increased 4.3% year-on-year to EUR 195.5 million
Brunello Cucinelli, Brand Founder and Chairman of the Board of Directors and CEO, stated: “In terms of both sales and profitability, the 2016 results are very optimistic. The sales of the Spring/Summer 2017 series are also very impressive. We firmly believe that this year’s sales Both profits will show double-digit growth."
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