Italian fashion brand Cucinelli has reported better-than-expected results for the year 2021, despite a volatile and fluctuating environment due to the global Covid-19 pandemic.
Cucinelli is forecasting a 31% increase in sales in 2021, at current exchange rates, after the Covid-19 pandemic caused a 10% decline in sales in 2020.
According to Refinitiv SmartEstimate, analysts had forecast sales of €703 billion in 2021. Far from the reality, total net sales amounted to €712 billion, an increase in sales of 19% compared to 2019, the year before the arrival of the global pandemic.
Following its 2021 earnings announcement, the brand is aiming for “nice, healthy and balanced growth of around 10%” for the current year and 2023, despite the Covid-19 epidemic rebounding worldwide.
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Featured photos : © Brunello Cucinelli
