This year is expected to be a record one for the company.
The company is poised to double sales ahead of its 10-year plan revealed in 2019 and introduced a new five-year plan beginning in 2023, considering 2022 a “non-linear year.”
Equity analysts Flavio Cereda and Kathryn Parker at Jefferies in their report stated that, “We continue to believe that [] is entitled to high multiples versus most peers,” and that revenues beat their expectations. The performance “validates our view that its unique brand profile at the top end is likely to be a safe haven” and rated Cucinelli shares as a “buy.” “Current trends look like a doubling of sales in six years versus the original stated assumption of 10.
Cereda and Parker expressed their belief that Cucinelli’s “very resilient customer profile, category and geographical expansion opportunities will allow” the company to secure growth “but above all retain its unique characteristics that continue to distinguish it from all other players.” Jefferies estimated 2024 revenues to reach near 1.1 billion euros “and see no reason why 1.5 billion euros should not be comfortably achieved within five years.
said he expects 2022 to be a record year and one of “total rebalancing, and along with the strong advancement in revenue after the pandemic period, we expect margins to completely rebalance, returning to ‘normal’ levels pre-pandemic.”and wholesale channels, as well as increases in both the women’s and men’s divisions, now representing almost a 50/50 balance, contributed to the strong nine-month performance.
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