MILAN (Reuters) – Italian luxury group Brunello Cucinelli improved its sales guidance for 2021 for the second time this year on Tuesday after revenues jumped in the three months to June, accelerating a recovery from the low point of the coronavirus pandemic.
The company said revenues had soared by almost 60% at constant exchange rates in the first six months to reach 313.7 million euros ($370.6 million) compared to a year ago.
Sales at the end of June were 10% above their pre-pandemic levels in the first half of 2019, and rose by 13.8% in the second quarter compared with two years ago.
The brand known for cashmere clothing, which had already raised its sales outlook in March, said it now expects “excellent sales growth for the whole of 2021, in the region of +20% compared to 2020” and a further increase of around 10% for 2022.
Its revised guidance in March was for 15-20% sales growth in 2021 and a 9-10% rise in 2022.
Sales fell by 10% last year due to the fallout from the health crisis.
($1 = 0.8464 euros)
(Reporting by Claudia Cristoferi, editing by Silvia Aloisi)
