Brunello Cucinelli at the end of Monday's board meeting to examine the preliminary data on 2021 management, he defined the year that ended "very beautifull”, in line with the company's philosophy, devoted to economic and human balance.
A philosophy that evidently pays off, since i Net revenues – reads a note from the company – they grew by 30,9%, to 712,0 million at current exchange rates compared to 2020, the annus horribilis of the pandemic. More contained rise (+17,2%) compared to the pre-covid period, where the component retail however, it leads to a growth of 23,4%.
“For our fashion house, 2021 has been a year to be counted among the beautiful ones,” he said Brunello Cucinelli, executive president and creative director of the Umbrian company. “We have achieved important results worldwide, both from an economic and image point of view, so much so that we can define this time just ended as the year of rebalancing”.
The effective financial machine of the fashion house confirms the multi-year plan, which it sees on the one hand investments up to 61 million euros compared to 51,6 in 2020, on the other hand a debt characteristic net financial position of approximately 23 million, a marked improvement compared to 93,5 million at the end of 2020 but also compared to 30,1 million at the end of 2019
“thanks to cash flow generation and very positive working capital management” says the press release.
Il turnover recorded an increase of 26,5% on the European market compared to 2020 and 23,8% compared to 2019, with a weight on sales of 30,8%. In particular, in Italy there was an improvement in the trend of sales in the last part of last year with a growth of 23,2% compared to 2020. Given the appreciation of both the buyers and the international press of the collections Spring-Summer 2022 and pre-collections Autumn-Winter 2022, the Umbrian fashion house foresees “for the current year a beautiful, graceful and balanced growth around 10%".
The company obtained last year two awards world championships. In London, at the Tate Modern Museum, Brunello Cucinelli was named “Designer of the Year” by British men's fashion magazine GQ in September. Furthermore, Brunello Cucinelli participated last year as a speaker together with Prince Charles of England at the G20 in Rome on October 31, with a testimony on humanistic capitalism and human sustainability.
Attention is also paid to ecological sustainability. “At the end of the year we decided to make our commitment measurable by communicating the objective of a 60% reduction in greenhouse effect emissions in terms of economic intensity by 2028, and in absolute value of 70% for scope 1 emissions and 2 and 22,5% for scope 3 emissions”, concludes the press release.
The share closed on the Milan stock exchange at 58,05 euro, with a drop of 4,52%.
