MILAN — The first nine months of the year closed with such positive results that Brunello Cucinelli revised its 2026 estimates further upward, forecasting revenue growth of 12 percent at constant exchange rates from an expected 10 to 11 percent increase indicated in July.
On Thursday, the Italian luxury house reported a 10 percent gain in nine-month sales, which reached 1.12 billion euros compared with 1.02 billion euros in the same period last year. At constant exchange rates, sales rose 13 percent.
In light of the performance of the spring 2027 men’s and women’s collections, Cucinelli envisaged growth of around 10 percent for 2027 as well.
“We believe that the brand’s image around the world reflects what we have always aspired to: a belief in absolute luxury, without logo,” said Brunello Cucinelli, the founder, executive chairman and creative director, during a conference call at the end of trading. “We think of a brand that stands for authenticity, style, familiarity and simplicity, where the product is the fruit of exceptional craftsmanship, quality, creativity, with a contemporary sensibility and a strong sense of exclusivity — the latter being of paramount importance to us. We also feel that ours is not a mass-market renown.”
During the call, chief executive office Luca Lisandroni said that the first two weeks of October also showed a good performance, expressing confidence in the rest of 2026 and that the third quarter reflected the year’s “continuous and constant growth, balance in each quarter across markets and channels.”
Cucinelli and Lisandroni underscored the strength of retail, of the online channel, North America and China, in addition to the quality of the collections, with an increase in the average ticket and in the number of customers. The online channel accounts for 7 percent of sales, but they highlighted how it is a tool that drives customers to stores.
CEO Riccardo Stefanelli touted “the quality of traffic of Callimacus,” the platform supported by Cucinelli’s Solomei AI research center, doubling the length of time visitors spend on the site, and recalled that Salesforce has invested in the platform, as reported.
Cucinelli addressed the issue of generational handover, and highlighted the family’s control of the company, although it is publicly listed, with a long-term view, “with the enduring hope of maintaining a sound and well-earned reputation and ensuring that the brand continues to thrive for decades to come.”
Cucinelli, who is 73, said that when he was 58 he set up an “irreversible” trust fund in favor of his daughters Carolina and Camilla, at 63 he decided to take on the role of executive chairman, and that “everything had been defined” for the time following his death.
At constant exchange rates, the third quarter saw a 13.5 percent gain in revenues to 374.2 million euros, slightly above expectations and lifted by all geographic markets and categories, equally split between the men’s and women’s collections.
Revenues by Geographic Market
In the nine months ended Sept. 30, revenues in Europe rose 6 percent to 393.9 million euros, representing 35.1 percent of the total. The growth was driven by a particularly positive retail performance, which maintained double-digit increases in the third quarter, in continuity with the trend of the first part of the year, and was boosted both by local customers and international tourists.
Sales in the Americas climbed 14 percent to 418.3 million euros, accounting for 37.2 percent of the total. At constant exchange rates, revenues rose 20 percent in the region. The third quarter confirmed the very positive pace of the first part of the year.
Openings in Nashville and Naples, Fla., in the first part of the year and in San Diego in the third quarter reflect the geographic expansion of the brand.
Revenues in Asia were up 10 percent to 311.4 million euros, representing 27.7 percent of the total. At constant exchange rates, sales were up 14 percent.
Cucinelli was pleased with the performance in China, which continues to be one of the main drivers of “constant growth” in the region. A Casa Cucinelli store will open in Shanghai next week and the brand is expanding its Plaza 66 store in the city by the end of the year. There are now around 10 Case Cucinelli stores around the world.
Next year, the company will expand the store at China World in Beijing.
Japan and South Korea continued to deliver positive results, driven mainly by local clients.
Despite the war in the Middle East, the third quarter recorded a solid performance there, in a period marked by the natural low seasonality of July and August and a reduced presence of international tourists. The opening of a store in Abu Dhabi planned for last month has been postponed until next year.
Revenues by Channel
In the nine months, retail revenues grew 15 percent to 741 million euros, representing 66 percent of the total. Organically, they were up 19 percent. Growth was significant in every quarter of the year, with double-digit increases across all geographies. In the third quarter, the channel was up 17 percent at constant exchange rates. Like-for-like sales in the third quarter remained in line with the performance recorded in the first six months of the year.
Cucinelli benefited from some key projects, such as the recent relocations of flagships in Paris, on Rue Saint-Honoré, and in Los Angeles, on Rodeo Drive, as well as the expansion of Bond Street in London.
As of Sept. 30, the network included 142 directly operated boutiques.
Wholesale revenues were up 2 percent to 382.5 million euros, or up 4 percent organically. Cucinelli touted the strong relationship with Exemplar Luxury Group, owner of Saks and Neiman Marcus, its “punctual payments” and said that the brand is expanding both its men’s and women’s spaces at Bergdorf Goodman.
Next week, in Tokyo, Shanghai and Hong Kong, the premieres of the documentary film “Brunello, il visionario garbato” will take place, following the unveiling in Rome, New York and Paris.
In early November, the second edition of “La Paulée,” a prestigious biennial event that will bring together some of the world’s most important wine and Champagne producers and collectors, together with clients and friends of the brand, will take place in Solomeo, Italy, and the headquarters of the company.