Company type | Società per Azioni |
---|---|
BIT: BC | |
ISIN | IT0004764699 |
Industry | Fashion |
Founded | 1978 |
Headquarters | 6 Piazza Carlo Alberto dalla Chiesa, ( Solomeo), , |
Key people | Brunello Cucinelli (President and CEO) |
Revenue | €503.6 million [1] (2017) |
€50.975 million (2015) | |
€33.338 million (2015) | |
Number of employees | 1,365 (2015 average) |
Website | Official website |
Brunello Cucinelli S.p.A. (Italian pronunciation: [bruˈnɛllo kutʃiˈnɛlli]) is an Italian luxury fashion brand which sells menswear, women's wear and accessories in Europe, North America and East Asia. [2] The company was founded by Brunello Cucinelli in 1978.
Brunello Cucinelli started his couture house in 1978 with a specialty for Mongolian cashmere garments for women. [3]
In June 2014, owner Brunello Cucinelli, transferred the ownership of Fedone S.r.l. (which owned 61.56% of the fashion brand) to a new trust, Esperia Trust Company S.r.l., in a move to benefit his daughters and pursue his philanthropic work. [4]
In 2017, Brunello Cucinelli recorded 500 million euro in sales, 35% of which in North America. The company owns 94 of its 124 branded stores worldwide. [1] In January 2017, the company launched an ecommerce website. [5] In January 2018, the founder, Brunello Cucinelli, sold 4 million shares of his company (owned through his holding Fedone S.r.l.), and brought his participation down to 51% of the company's capital. [6] Through this move, 6% of the company (worth 100 million euros) was invested in his family's charitable fund. [7] In May 2018, the company opened its second store in Mexico. Both Mexican stores are located in the country's capital. [8]
In 2022, Chanel and Brunello Cucinelli join forces with cashmere supplier Cariaggi Lanificio. [9]
In 2023, the brand increased its sales by 24% compared to 2022, to 1.14 billion euros. The last quarter of the year recorded the highest results, with sales up +15.6% to 321 million euros. [10] [11] Also in 2023, the brand started its first entry into the world of perfume as it introduced two scents designed with Euroitalia, a company specialized in the creation and distribution of luxury fragrances. [12]
In 2024, Brunello Cucinelli strengthens its production line in Italy with the acquisition of the Sartoria Eugubina sewing workshop and the construction of a new factory to meet the increasing consumer demand. [13] [14]
Cucinelli's family trust owns 57% of the company's stock, which went public in 2012 at €7.75 per share. [15] The company is headquartered in a 14th-century castle on the top of a hill in the middle of Umbria, an area known as the "green heart" of Italy. [16]
The company donates 20% of profits to its charitable foundation, and pays workers wages that are 20% higher than the industry average. [17] The company's 1,300 employees (of whom 800 work in Solomeo) do not punch a time clock; after-hours e-mails are not allowed. [15] As of June 2017, the company has a market capitalization of over €1.6 billion. [18]