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.
The recent banking drama, starting with Silicon Valley Bank earlier in the month and spreading to Credit Suisse Group AG last week, has roiled markets, sparking fears of further contagion.
His redefinition of contemporary portraiture is just one facet of the young photographer’s stunning body of work, writes Tim Blanks.
Traditional auction houses like Christie’s, Sotheby’s and Philips — known for selling Warhols, Picassos and antiques — are using Birkins and Jordans to cultivate their next generation of collectors.
With the UK no longer offering tax breaks to international shoppers, customers are instead flocking to Paris and Milan.