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Jul 12, 2022
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Brunello Cucinelli raises 2022 revenue guidance after sales jump in Q2

By
Reuters API
Published
Jul 12, 2022

Italian luxury group Brunello Cucinelli said on Tuesday it had raised again its revenue guidance for 2022 after posting a 46.4% sales jump in the second quarter of the year.




The brand known for cashmere clothing sees a revenue growth of 15% for this year which compares with a previous estimate of around +12%.

Cucinelli confirmed a revenue growth of around 10% in 2023 and said it expects revenues of approximately 1 billion euros ($1.01 billion) in 2024, it said in a statement.

After a 20% sales growth in the first quarter, the company's sales accelerated in the second quarter totalling 218.3 million euros, which compares with analysts' expectations of 212 million euros, according to a Reuters poll.

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