On April 9, Italian luxury group Brunello Cucinelli released its Board-reviewed financial results for the first quarter of 2026, ending March 31: revenue increased by 8.1% year-on-year to €369.1 million, or +14.0% at constant exchange rates.
From a geographical perspective, performance in Asia, particularly in the retail channel in the Chinese Mainland, was described as “very significant.” In the Chinese Mainland, demand for high-end ready-to-wear has grown markedly, with consumers placing particular emphasis on garments of exceptional quality and exquisite craftsmanship. New customers have made a highly significant contribution, complementing the existing loyal customer base, which is increasingly inclined to purchase distinctive apparel.
Brunello Cucinelli, Founder, Executive Chairman, and Creative Director of the brand, commented, “The first quarter of 2026 ended with a 14% increase in revenue, a result we may confidently regard as excellent. On a global level, the brand’s elevated image — positioned within the most exclusive tier of luxury — remains very robust, and we believe it is enjoying the finest moment in our history. The consistency and identity of our style, our visual merchandising, and the lifestyle we so ardently seek to express appear to us both vigorous and dynamic, while their guiding principles remain steadfast over time: great creativity, contemporary product, craftsmanship, manual skills, and exclusivity. We are confident that the prestigious accolades received in 2025 for our stylistic identity, together with the release of the film throughout 2026, will continue to fuel interest, curiosity, and allure around our Maison.
At this particular juncture for humanity, we have drawn upon what we learned in 2020 during the pandemic and subsequently put into practice: namely, the importance of clarity in the fundamental principles of our enterprise; the necessity for all our decisions to be reversible, elastic, and flexible — culturally as well — on an almost daily basis; and, finally, the need for great caution and patience, without thereby relinquishing our rightful ambition.”
The Group noted that the Spring/Summer 2026 collection is already available in stores and has demonstrated strong sales momentum since its launch. Feedback gathered during the sales campaign for the Fall/Winter 2026 men’s and women’s collections confirms that the international specialist press and multi-brand clients have given the collections high praise. Order volumes have grown steadily, helping to enhance market visibility in the second half of the year.
Based on this, the Group forecasts a 10% increase in full-year 2026 revenue at constant exchange rates:
“This outlook is founded on several elements, starting with the quality of the Spring-Summer and FallWinter 2026 collections. The performance in March remained in line with the first two months of the year, even in a context of greater complexity, and very significant Retail channel growth is confirmed, particularly in the United States and in China. We also consider it important to highlight the centrality of the local client, the limited dependence on international tourism, and the contained weight of the Middle Eastern market, at approximately 5% – a percentage also representative of the overall weight of the Middle Eastern client, who is predominantly domestic for our brand.”
“We further believe that results may benefit, in an evolving context, from the solid positioning in the digital channel, thanks to increasingly effective partnerships with leading operators, as well as the development of our new e-commerce site, recently enhanced with artificial intelligence capabilities able to increase time spent on site and opportunities for interaction, sales and communication – an area in which we strongly believe.”
“Finally, our production structure, characterised by a short, direct and entirely Italian supply chain, guarantees us flexibility, speed and adaptability, enabling us to respond rapidly to evolving demand.”
— By Market:
Europe:
Revenue increased by 4.4% year-on-year at constant exchange rates to €124.7 million, accounting for 33.8% of total revenue, with Italy contributing 11%.
The retail channel achieved double-digit growth, while the wholesale channel performed as expected and remained broadly stable compared with the same period last year. No new stores were opened in Europe in 2025 or in the first half of this year, ensuring strong comparability.
However, the flagship stores on Bond Street in London and Rue du Faubourg Saint-Honoré in Paris, whose expansion projects were completed in the second half of 2025, have further enhanced the in-store experience, making it warmer, more comfortable, and vibrant.
Americas:
Revenue rose by 20.3% at constant exchange rates to €137.7 million, representing 37.3% of total revenue.
Building on the already outstanding performance of the previous quarter, the retail channel gained further momentum. This reflects consumers’ strong appetite for high-quality luxury apparel and demonstrates how the collections successfully interpret and satisfy American consumers’ pursuit of uniqueness. The addition of new customers has also positively contributed, drawn by the brand and its lifestyle philosophy.
The wholesale channel also recorded growth, driven by increased boutique orders and positive revenue contributions from Saks Global, a luxury department store. Shipments resumed as early as mid-January, and payments have returned to normal. Since the beginning of the year, revenue generated from Saks Global has increased compared with the same period in 2025.
Asia:
Revenue increased by 17.8% at constant exchange rates to €106.7 million, accounting for 28.9% of total revenue.
In Asia, particularly in the Chinese Mainland, the retail channel delivered very outstanding performance, further improving on the positive momentum already seen in the fourth quarter of 2025. This confirms the brand’s growing recognition across the region and its positioning in the high-end luxury segment.
Sales in the Middle East account for approximately 5% of annual revenue, with a clientele primarily composed of local customers. Retail performance in the United Arab Emirates has been particularly strong, while other markets in the region are covered through wholesale channels. The latest deliveries of the Spring/Summer 2026 collection have fully taken into account the current situation in the Middle East.
— By Channel:
Retail Channel:
Revenue increased by 20.1% at constant exchange rates to €238.2 million, representing 64.5% of total revenue—an increase of approximately 3 percentage points compared with the previous quarter of 2025.
The retail channel delivered particularly significant growth in the first quarter of 2026 across all regions, with especially strong performance in the Americas and the Chinese Mainland, confirming robust demand in the high-end luxury market.
This growth was driven by both same-store sales increases and contributions from new stores opened in the second half of 2025 and early 2026.
During the first quarter, the brand opened two resort boutiques in Florida (Boca Raton and Naples), as well as a boutique in Wuhan in the Chinese Mainland.
Overall, the retail channel continues to benefit from the acquisition of new customers and higher average spending by existing clients. This highlights the brand’s appeal and its ability to create value over time through customer relationships. In this context, the positive contribution of the sales mix has been particularly notable, with the share of the most distinctive products continuing to rise.
Wholesale Channel:
Revenue increased by 4.3% at constant exchange rates to €130.9 million, accounting for 35.5% of total revenue.
In the first quarter, multi-brand partners reported very strong sales of the Spring/Summer 2026 collections. The sales campaign for the Fall/Winter 2026 collections concluded successfully, reflecting strong consumer recognition of the products and excellent collaboration with partners.
In this context, the Group is committed to maintaining the same level of exclusivity, selectivity, and distinctive market positioning in online channels as in physical retail. This objective has been shared with its approximately 400 multi-brand partners worldwide—among the finest globally—further reinforcing the role of the multi-brand channel in enhancing brand perception in terms of modernity and exclusivity.
| Source: Official Financial Report
| Image Credit: Official Financial Report, Brunello Cucinelli Official Website
| Editor: Luxeplace
