China driving Brunello Cucinelli sales growth
China is fuelling solid sales growth for Italian luxury house Brunello Cucinelli, which expects to post net revenues of €553 million (US$633.23 million) for last year.
The anticipated revenues equate to an 8.1 per cent rise over the previous year’s figures.
The brand’s sales growth is largely driven by the greater Chinese market, driving 10 per cent of the label’s revenue with sales worth €54.8 million (US$62.76 million) last year, 28.5 per cent above its performance in 2017.
“Another year has ended in splendid fashion, both in terms of revenue and of the brand’s global image worldwide,” said the brand’s founder Brunello Cucinelli.
The firm opened two mono-brand stores last year, and also converted four franchises into directly-owned outlets, bringing its total of directly-operated stores to 100 globally.