Italy’s Brunello Cucinelli’s H1 revenue, profit rise; outlook raised

Italian luxury fashion house Brunello Cucinelli SpA has delivered strong performance in the first half of 2026 (H1 2026), marked by robust revenue growth, improved profitability, and a solid balance sheet, prompting the company to raise its full-year revenue guidance as global demand for its high-end offerings remained resilient across all markets and channels.

For the six months ended 30 June 2026, revenues rose 13.3 per cent at constant exchange rates and 9.5 per cent at current rates to €749.4 million (~$812.3 million), driven by double-digit growth in the retail channel and balanced expansion across geographies. Net profit increased 2 per cent year on year (YoY) to €78.2 million (~$84.8 million), representing 10.4 per cent of revenues.

Brunello Cucinelli’s H1 2026 revenue rose 13.3 per cent at constant exchange rates, net profit grew 2 per cent and EBIT margin improved to 17.1 per cent.
Retail outpaced wholesale, up 19.3 per cent, as organic expansion, new boutiques and higher client spend supported demand.
The company raised its FY26 revenue growth forecast to 10-11 per cent and expects around 10 per cent growth in 2027.

The operating profit (EBIT) reached €128.2 million (~$138.9 million), up 12.6 per cent, with the EBIT margin improving to 17.1 per cent from 16.6 per cent a year earlier. Basic and diluted earnings per share (EPS) stood at €1.12 (~$1.21), compared to €1.08 in the prior-year period.

“We closed the first half of the year with results that we view as truly, truly outstanding. The brand is enjoying exceptionally favourable momentum worldwide, with our boutiques embodying our stylistic identity and way of engaging with others. Encouraged by these highly positive indicators,” said Brunello Cucinelli, executive chairman and creative director, Brunello Cucinelli SpA.

Americas and Asia drive regional growth

Growth was broad-based across all regions. In the Americas, revenues surged 20.6 per cent at constant exchange rates to €278.7 million (~$302.1 million), accounting for 37.2 per cent of total turnover, supported by strong demand in major cities and secondary markets alike, the group said in a press release.

Asia saw revenues rise 14.1 per cent at constant exchange rates to €215.2 million (~$233.3 million), with China remaining a key growth engine.

Europe posted a 5.3 per cent increase at constant exchange rates to €255.6 million (~$276.9 million), driven by double-digit retail growth and continued strength from both local and tourist clientele.

Retail channel outperforms, margins improve

The retail channel delivered exceptional results, with revenues up 19.3 per cent at constant exchange rates to €499.8 million (~$541.8 million), accounting for 66.7 per cent of total sales.

The growth was fuelled by organic expansion, new store openings, and increased average spend per client. The wholesale channel also performed solidly, rising 2.7 per cent at constant exchange rates to €249.6 million (~$270.5 million). Operating margin improved to 17.1 per cent, supported by a higher first margin of 75 per cent, while payroll and lease costs grew in line with business expansion. Investments for the period totalled €57.2 million (~$62 million), focused on boutique and infrastructure upgrades.

Retail sales rose 18.6 per cent at constant exchange rates during the second quarter (Q2), supported by organic growth as well as new store openings and expansions. The wholesale business also maintained a solid trajectory, while demand for the Spring-Summer 2026 collections remained strong and the initial sell-through of the Fall-Winter 2026 range was encouraging, added the release.

Guidance raised on strong H1, positive outlook for 2027

Reflecting the robust H1 performance and favourable July sales, Brunello Cucinelli lifted its full-year 2026 revenue growth forecast to 10-11 per cent at constant exchange rates, up from the previous 10 per cent estimate. The company expects continued strong demand in the second half, particularly in retail and digital channels, and foresees a reduction in net financial debt by year-end as investment normalises.

Looking ahead, the company remains confident in achieving around 10 per cent revenue growth in 2027, underpinned by its brand strength, disciplined distribution, and ongoing investment in product and client experience.

“We also remain highly confident about 2027, when we anticipate delivering healthy growth of around 10 per cent,” added Cucinelli.

Fibre2Fashion News Desk