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Cucinelli Raises Sales Growth Forecast for 2023

Italian luxury brand Bunello Cucinelli. (Shutterstock)

By

Reuters

15 March 2023

Italian luxury group Brunello Cucinelli on Wednesday raised its sales growth guidance for 2023 to 15 percent, up from its previous estimate of 12 percent, on the back of a strong start to the year and significant orders for coming seasons.

The brand known for cashmere clothing posted earnings before interest and taxes (EBIT) at €134.4 million ($141.6 million), above a €133.0 million analyst forecast based on a SmartEstimates consensus provided by Refinitiv.

Brunello Cucinelli proposed the distribution of a dividend of 0.65 euros per share. ($1 = 0.9490 euros)

By Romolo Tosiani

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Brunello Cucinelli Acquires 43% Stake in Italian Cashmere Supplier

The Italian house best known for its cashmere knitwear paid €15.05 million for a 43 percent stake in its long-time supplier of the luxury fabric, Lanificio Cariaggi Cashmere.

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