Brunello Cucinelli Profits Rise 7.5%

WWD

MILAN — Higher sales in both the retail and wholesale channels helped boost Brunello Cucinelli SpA’s net profit by 7.5 percent to 31.8 million euros, or $42.3 million, in 2014 compared with 29.6 million euros, or $39 million, in 2013. In the 12 months ended Dec. 31, revenues gained 10.4 percent to 355.9 million euros, or $473.3 million at average exchange, compared with 322.5 million euros, or $425.7 million, in the previous year.

Earnings before interest, taxes, depreciation and amortization climbed 8.4 percent to 63 million euros, or $83.8 million.

Brunello Cucinelli, chairman and chief executive officer, said the group is “in the midst of a development path in Italy and abroad, with excellent results in terms of both revenues and margins. We consider this latest year as a ‘fundamental’ year for the image of our business. » He touted the brand’s “clear positioning at the highest end of luxury as…

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