Cucinelli tops forecast with near 30% sales jump in 2022

Italian luxury group Brunello Cucinelli on Monday posted a 29.1% increase in 2022 revenue at current exchange rates, a touch above its latest guidance and market expectations.

The brand known for cashmere clothing last month raised its sales guidance for the third time in a year to indicate growth of around 28% for 2022.

On Monday it stuck to a projection of a 12% increase in sales this year and of about 10% in 2024.
Cucinelli's sales reached 919.5 million euros ($988.1 million) last year, compared with an average 915 million euro analyst forecast based on a SmartEstimates consensus provided by Refinitiv.

Cucinelli said revenues in the Americas jumped by 40.5% in 2022 while they grew by 28.1% in Asia with "double digit growth" in China. Sales in Europe grew by more than 20%.