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Reuters
Published
Jan 14, 2015
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Italy's Bruno Cucinelli posts 10 pct rise in 2014 sales

By
Reuters
Published
Jan 14, 2015

Italian luxury cashmere maker Brunello Cucinelli posted a 10.3 percent rise in 2014 sales to 355.8 million euros ($420 million) helped by a strong performance in North America, which accounts for a third of total revenues.

Brunello Cucinelli | Photo: Ansa


Cucinelli, which will approve final 2014 results on March 10, said in a statement it continued to forecast double-digit growth in sales and profits also for the current year.

Cucinelli said European sales benefitted from high-end tourist flows, rising 8 percent in 2014.

Despite the difficult economic situation, Cucinelli said the performance in Russia was "particularly encouraging" with data for the Spring/Summer 2015 collection showing that demand remained solid.

Exchange rates had a broadly neutral impact on 2014 sales, which were up 10.5 percent before currency adjustments.

Cucinelli, which reaps 81 percent of its revenues from outside of Italy, said domestic sales rose 2.8 percent.

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