Brunello Cucinelli was left untouched by the luxury crisis

During the first nine months of 2024, Brunello Cucinelli's revenues rose by 12.7%, a result that surprises the luxury market during a period when even giants like LVMH are reporting losses. The Italian brand’s sales growth accelerated primarily in the Americas and Asia, the company announced yesterday while releasing results for the first three quarters of the year. This performance is attributed to a growth strategy focused on high-end consumers and less dependence on China. In the third quarter alone, Brunello Cucinelli’s revenue jumped by 9.2%, reaching a remarkable €300 million. «With the substantial orders already placed for the Spring-Summer 2025 men's and women's sales campaigns,» wrote CEO Brunello Cucinelli in a statement, «we can reaffirm our plans for healthy and sustainable growth, forecasting a revenue increase of about 10% for both 2025 and 2026.»

What seems to have secured Brunello Cucinelli's success during a period of general crisis for the luxury industry is the so-called “brand equity.” During the sector’s boom years, when major fashion houses immersed themselves in entertainment through collaborations with celebrities and public appearances, Cucinelli opted to maintain a low profile. By continuing to care for loyal customers and choosing not to host extravagant shows, focusing on doing fewer things but doing them well, Cucinelli found the sense of security that other luxury brands are now striving to achieve. A strategy that, in the words of the company’s founder, aligns with the concept of “true luxury”: exclusivity and impeccable craftsmanship. «We would like to emphasize the positioning of our brand, the exclusive distribution within the country, the appreciation for our high-quality prêt-à-porter offerings and craftsmanship, and the taste of our collections, which align with the expectations and demands of local customers» Cucinelli announced.