Day: March 26, 2021

Italian style model Brunello Cucinelli FY20 income drops to €544 mn

Brunello Cucinelli, an Italian luxurious style model, has reported 10.5 per cent income loss to €544.0 million within the fiscal 2020 ended on December 31, 2020 in comparison with the gross sales of €607.8 million within the earlier fiscal. The corporate incurred a internet lack of €32.0 million through the yr in comparison with the online earnings of €53.0 million in FY19.


“We now have simply ended the yr 2020, which shall be a subject for dialogue for generations to come back, and which can persist with our reminiscence as a painful time for the physique and soul, but in addition as a time of nice change for the advantage of humanity and creation as an entire,” Brunello Cucinelli, govt chairman and inventive director of the corporate, mentioned in a press launch.


The corporate’s working loss throughout FY20 was €14.8 million (FY19: earnings €83.4 million). EBITDA slipped to €89.5 million (€169.6 million).


Revenues in Italy fell 23.8 per cent to €68.3 million (€89.7 million), and lack of vacationers within the area was partially compensated by the steadiness of specialty shops within the suburbs. Europe revenues had been marginally down 1.8 per cent to €181.5 million (€184.8 million). Though, North

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