BRUNELLO CUCINELLI: NINE-MONTH REVENUE ROSE 10.2% TO €1,123.6M, 13.3% AT CONSTANT RATES; RETAIL SUPPLIED 91.2% OF THE INCREASE
By Pau Almar · Published
9M 2026 · 15 OCTOBER 2026
Brunello Cucinelli reported revenue for the nine months to 30 September 2026 of €1,123.6m against €1,019.2m, up 10.2% and 13.3% at constant exchange rates. Third-quarter revenue was €374.2m, up 13.5% at constant exchange rates. The release carries no margin, profit, inventory or debt figure.
Retail revenue was €741.0m, up 14.7% (19% at constant rates), and supplied €95.2m, 91.2%, of the €104.5m increase; its share of revenue rose to 66.0% from 63.4%. Wholesale was €382.6m, up 2.5% (4% at constant rates). Wholesale accelerated to +7% in the third quarter from +2.7% in the first half, while retail slowed to +17% from +19.3%.
// KEY NUMBERS
9M 2026 revenue · nine months ended 30 September 2026
| Revenue | EUR 1,123.6m |
|---|---|
| Reported growth | +10.2% |
| Constant-currency growth | +13.3% |
Currency took about three points from growth: at 13.3% on the prior-year base, constant-rate revenue is €1,154.7m, and the €31.1m gap to the reported figure is the currency effect. The Americas grew 20% at constant rates, Asia 14% and Europe 7%.
The company raised its 2026 target to +12% at constant rates, from +10% at the start of the year and +10% to +11% in July. On the 2025 fourth-quarter base of €388.8m, the target requires fourth-quarter growth at constant rates of 8.5% to 8.7%, against 13.5% in the third. For 2027 it expects growth of around 10%.
The 2026 full-year revenue will test the +12% target and retail growth against the third quarter's +17%; the first quarter of 2027 will be read against the target of around +10% for the year.
Source: Brunello Cucinelli S.p.A., press release "The Board of Directors examines Sales Result at 30 September 2026", 15 October 2026 ↗
Analysis by Pau Almar, VGR.
VGR analysis is an independent commercial reading of publicly disclosed company information, written from the perspective of a fashion retail sector operator. It is not investment research and it is not advice to buy, sell or hold any security. VGR is not a regulated financial adviser. Figures are taken from official company materials; figures derived by VGR are labelled as such. Readers should reach their own conclusions and take professional advice where appropriate.
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