The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Italian luxury group Brunello Cucinelli on Wednesday raised its sales growth guidance for 2023 to 15 percent, up from its previous estimate of 12 percent, on the back of a strong start to the year and significant orders for coming seasons.
The brand known for cashmere clothing posted earnings before interest and taxes (EBIT) at €134.4 million ($141.6 million), above a €133.0 million analyst forecast based on a SmartEstimates consensus provided by Refinitiv.
Brunello Cucinelli proposed the distribution of a dividend of 0.65 euros per share. ($1 = 0.9490 euros)
By Romolo Tosiani
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Brunello Cucinelli Acquires 43% Stake in Italian Cashmere Supplier
The Italian house best known for its cashmere knitwear paid €15.05 million for a 43 percent stake in its long-time supplier of the luxury fabric, Lanificio Cariaggi Cashmere.
At an investor day in New York, the Italian luxury group laid out plans for newly acquired Tom Ford, as well as Thom Browne and its namesake Zegna label.
Sebastien Fabre will lead the Paris-based vintage start-up as it seeks to scale its platform and extend sourcing operations to the US.
The actress and humanitarian discusses the project and her broader fashion ambitions with BoF founder and editor-in-chief Imran Amed in an upcoming episode of The BoF Podcast.
The event drew an international crowd, with high-wattage names like Gwyneth Paltrow and Anne Hathaway there to pay tribute to Valentino Garavani, but British design talent took centre stage.