Brunello Cucinelli, the Italian luxury fashion house, has reported robust financial performance for the first nine months of 2025, with revenues reaching €1.02 billion, representing growth of 10.8% at current exchange rates and 11.3% at constant rates. The company's third-quarter results were particularly strong, with sales of €335.5 million showing 12% growth at current rates and 12.4% at constant rates. These results mark the first time the company has surpassed the €1 billion revenue threshold by the end of September.
The strong performance comes amid market turbulence following allegations from Morpheus Research regarding potential sanctions violations in Russia and inventory management concerns. Cucinelli responded to these allegations by stating the company "respects the rules" regarding sanctions and maintains "a fair and balanced warehouse" consistent with historical values. The company's stock initially dropped 17 percentage points following the allegations but has since recovered, gaining 18% over the past five days and trading up approximately 2% following the earnings release.
Brunello Cucinelli, the company's chairman and creative director, expressed confidence in the brand's trajectory, confirming growth targets of "around 10%" for both the current year and 2026. The company cited "excellent start" to autumn-winter collection sales and strong performance in the Spring-Summer 2026 campaign as key drivers for maintaining these targets. Retail channel sales showed particularly strong growth at 13.9% in the third quarter, while wholesale grew by 9%.
Management emphasized the quality of sales and expressed confidence that profitability would mirror the strong revenue performance. The company noted receiving "extremely positive judgments" for its women's collection during Milan Fashion Week for style, craftsmanship, quality, and exclusivity. Despite the recent market challenges, Cucinelli stated the company is "working normally" and remains unconcerned about brand image impact, pointing to "countless testimonies of appreciation" from customers and stakeholders.
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