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The Italian luxury house surpassed €1,4 billion in revenue as stable global demand, correct retail expansion and ‘Made in Italy’ investments led to growth.
Financials
29 July, 2026
Table of contents
Brunello Cucinelli S.p.A. released its FY2025 Annual Financial Report on 18 February 2026. It showcased another year of disciplined growth, with the brand going over €1,4 billion in revenue. The results were supported by balanced performance across all geographical markets and distribution channels with significant investments in ‘Made in Italy’ manufacturing, retail development and digital innovation. Instead of prioritising short-term financial gains, Brunello Cucinelli executed its long-term strategy on craftsmanship, exclusivity and sustainable growth.
Even with record investment in manufacturing, retail expansion and digital capabilities, Brunello Cucinelli S.p.A. delivered healthy financial growth. Revenue surpassed €1,4 billion, while operating income increased at a slightly faster pace than sales.
| KPI | FY2025 | FY2024 | YoY |
|---|---|---|---|
| Revenue (€ million) | 1.408,0 | 1.278,5 | +10,1% |
| Operating Income (EBIT) (€ million)* | 235,9 | 211,7 | +11,4% |
*Normalised operating income.
The improvement in operating performance was supported by a stronger gross margin, which increased from 74,5% to 75,2%. It was benefitted from a favourable product, geographical and distribution mix. At the same time, Brunello Cucinelli S.p.A. invested in its internal team, retail network and brand, with higher payroll, lease and communication expenses due to business expansion. Even with these investments, operating margins improved from 16,6% to 16,8%.
Brunello Cucinelli delivered broad performance across all major markets while many luxury companies focused on individual regions for growth. The Americas remained the company's largest region, representing 37% of total revenue. Asia recorded the strongest growth (27,9% of total revenue). Europe continued to deliver resilient demand (35,1% of total revenue) supported by both local consumers and international tourism.
| Region | FY2025 (€ million) | FY2024 (€ million) | YoY |
|---|---|---|---|
| Americas | 520,5 | 476,6 | +9,2% |
| Europe | 494,9 | 456,6 | +8,4% |
| Asia | 392,5 | 345,4 | +13,7% |
The Americas’ growth accelerated in the fourth quarter despite challenging year-on-year comparisons. The company noted that this performance was a result of Brunello Cucinelli's positioning within the highest luxury segment and the continued demand from its core clientele for timeless, artisanal products. In Europe, growth was supported by a combination of adapting domestic demand and sustained high-end tourism. Italy stood out with 12,7% revenue growth, helped by deliveries of the Spring/Summer 2026 collections in the second half of the year.
Asia remained the fastest-growing region, driven by continued double-digit growth in China with an increasingly mature consumer preference for quality, craftsmanship and exclusivity. Strong performances in Japan, South Korea and the Middle East were reported, supported by both affluent local consumers and international luxury tourism.
| Channel | FY2025 (€ million) | FY2024 (€ million) | YoY |
|---|---|---|---|
| Retail | 947,0 | 851,2 | +11,3% |
| Wholesale | 460,9 | 427,3 | +7,9% |
Retail delivered consistent performance throughout FY2025, with revenue growth of 11,3% and its contribution to Group sales is 67,3%. Growth remained broad across all regions. The fourth quarter recorded another double-digit increase. Like-for-like performance and new retail space contributed in a balanced manner, with flagship expansions in London, Paris and Los Angeles, as well as new boutique openings in Carmel (Los Angeles), Macau and Shanghai Pudong.
Wholesale also delivered a solid 7,9% increase. Growth was driven by strong sales of the Spring/Summer 2025 and Fall/Winter 2025 collections, ongoing replenishment orders from wholesale partners, and early demand for the Spring/Summer 2026 collections. There was a positive client reception to the Autumn/Winter 2026 women's pre-collection.
During FY2025, the company completed its three-year programme to strengthen its Made in Italy production network, investing €146,2 million (equivalent to 10,4% of annual revenue) six months ahead of schedule. The project included the expansion of the Solomeo manufacturing facility with the completion of two new outerwear production sites in Penne and Gubbio. This increased the internal production capacity for the next decade.
While these investments contributed to higher net debt during the year, they strengthened Brunello Cucinelli S.p.A.'s long-term strategy of enhancing craftsmanship, production independence and supply chain control. The company expects investment levels to normalise from FY2026, enabling it to leverage its expanded manufacturing platform and continue to pursue balanced, sustainable growth.
FY2025 also demonstrated Brunello Cucinelli S.p.A.’s focus on brand equity through culture, technology and storytelling.
1 December 2025: Founder Brunello Cucinelli received the Outstanding Achievement Award from the British Fashion Council at The Fashion Awards in London, recognising his contribution to global luxury fashion. To mark the occasion, the brand took over all 26 Harrods windows, with a large-scale expression of the House's identity.
May 2025: Brunello Cucinelli hosted the Third Universal Symposium on Soul and Economics in Solomeo with global thought leaders including Yuval Noah Harari, Reid Hoffman, Nicholas Thompson and Audrey Tang to discuss technology, humanity and the future of innovation. The initiative displays the brand's Humanistic Capitalism philosophy.
4 December 2025: The documentary Brunello, the Gentle Visionary, directed by Giuseppe Tornatore, premiered at Cinecittà in Rome, celebrating the founder's life, philosophy and vision. Following its successful premiere, the documentary was screened internationally, with its first overseas feature at New York's Lincoln Center on 14 April 2026.
Digital Innovation
21 January 2026: Brunello Cucinelli launched its new AI-powered e-commerce platform, Callimacus, developed by Solomei AI. This AI-leveraged platform is designed as a page-less, personalised digital environment that tailors each customer's browsing experience while preserving the exclusivity and service expected within luxury retail. Management highlighted the platform as a strategic investment with expectations to enhance both brand perception and long-term revenue generation.
Humanistic Capitalism remained central to Brunello Cucinelli S.p.A.'s operating philosophy throughout FY2025. Alongside completing its Made in Italy manufacturing investment programme, the Group hired more than 200 new employees, fortified artisan capabilities and continued investing in local communities and production excellence. During the year, Brunello Cucinelli S.p.A. also published its first consolidated Sustainability Report under the EU Corporate Sustainability Reporting Directive (CSRD), leveraging its commitment to integrating environmental, social and governance priorities into long-term business strategy. The company continues to embed responsible manufacturing, human capital development and craftsmanship preservation.
While FY2025 was marked by operational execution, the company also faced temporary market volatility due to the allegations made in a September 2025 short-seller report regarding its international distribution practices. Brunello Cucinelli S.p.A. denied the claims, reiterated its compliance with EU sanctions and confirmed that all Russian boutiques had been closed since 2022. The company reported nine-month revenue, with management highlighting that the episode had not affected customer demand or the brand's long-term reputation.
Brunello Cucinelli S.p.A. enters FY2026 with strong commercial pace following another year of balanced growth across regions and channels. Management is expecting revenue to increase by around 10% at constant exchange rates with Spring–Summer 2026 sales, notable order intake for the Fall-Winter 2026 collections and continued demand across its core markets. Following the completion of its three-year manufacturing expansion programme ahead of schedule, capital expenditure is expected to return to more normal levels from 2026.
Looking ahead, Brunello Cucinelli S.p.A. remains focused on executing its long-term strategy of sustainable growth while preserving the exclusivity and craftsmanship. Continued investment in selective retail expansion, digital innovation and ‘Made in Italy’ production, combined with controlled financial management, will position the label in a stronger position amongst its competitors.
Cover Image: The Impression.
Read the full Brunello Cucinelli S.p.A. report Here, and
The full Brunello Cucinelli report Here.
For a deeper dive into the financial performance of other top luxury brands, explore the
Hermes FY 2025 Financial Report here,
Ralph Lauren FY 2026 Financial Report here, and
Burberry FY 2026 Financial Report here.
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