As reported by Glossy, 2023 was a stronger than expected year for Brunello Cucinelli, reporting Q4 growth of 15.6% y/y, slightly higher than consensus expectations.
Looking ahead, Bryce Quillin PhD commented:
“Brands like Cucinelli should be able to generate strong margins into 2024 by continuing to exercise strong pricing power that should not materially hurt volume growth,” said Quillin. “Their product mix is well aligned with the enduring trend for quiet luxury amid turbulent macroeconomic times. This is in contrast with much of the [luxury] industry, where we expect weaker price growth opportunities this year.”