UK markets open in 7 hours 24 minutes
  • NIKKEI 225

    26,966.35
    -44.98 (-0.17%)
     
  • HANG SENG

    24,289.90
    +46.30 (+0.19%)
     
  • CRUDE OIL

    87.34
    -0.01 (-0.01%)
     
  • GOLD FUTURES

    1,819.00
    -10.70 (-0.58%)
     
  • DOW

    34,168.09
    -129.61 (-0.38%)
     
  • BTC-GBP

    27,481.99
    -36.92 (-0.13%)
     
  • CMC Crypto 200

    844.25
    -11.56 (-1.35%)
     
  • ^IXIC

    13,542.12
    +2.82 (+0.02%)
     
  • ^FTAS

    4,192.70
    +53.23 (+1.29%)
     

Luxury group Cucinelli posts 31% sales jump in 2021

·1-min read
FILE PHOTO: Logo of Brunello Cucinelli is seen on a door at their company headquarters in Solomeo village, near Perugia

MILAN (Reuters) - Italian luxury group Brunello Cucinelli posted on Monday a 31% increase in 2021 revenue at current exchange rates, in line with its latest guidance and a touch above market expectations, after the pandemic triggered a 10% drop in 2020.

Last month the fashion house raised its 2021 sales guidance for the fourth time in a year to growth "close to 30%" and reiterated expectations for "nice, healthy and balanced growth of around 10%" in both 2022 and 2023.

The brand known for cashmere clothing confirmed the targets for coming years despite mounting global fears for the new wave of COVID-19 infections.

Net sales totalled 712 million euros ($806.3 million) last year, a 17% increase compared to 2019 sales, before the Covid pandemic.

Analysts had expected sales of 703 million euros in 2021, according to Refinitiv SmartEstimate.

($1 = 0.8831 euros)

(Reporting by Claudia Cristoferi; Editing by Jan Harvey)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting