Brunello Cucinelli Reports H1 Sales Growth, to Unveil New Site With AI
MILAN — Brunello Cucinelli’s namesake company continued to grow in the first half of the year, but on Thursday the entrepreneur was more eager to speak about a new corporate website built with the help of artificial intelligence.
Although the details are still under wraps because the official presentation of the project will take place in Milan on Tuesday, Cucinelli admitted he couldn’t conceal his excitement.
More from WWD
“After working on this site for three years, in a few days we will present our new corporate website to the world in Milan, a project imagined and built together with artificial intelligence, which is probably one of the first in the world,” said Cucinelli. “For us it is something extraordinary that will enable our employees to look at AI with excitement, confidence, familiarity and much less fear and concerns than in the past.”
He also recalled the second Universal Symposium on Soul and Economics held at his headquarters in Solomeo, reflecting on the relationship between ethics and AI, and between humanism and technology, which drew the likes of Reid Hoffman.
That said, Cucinelli was clearly pleased with the performance of the company, which reported a 14.1 percent increase in preliminary revenues in the first six months of the year. In the first half ended June 30, sales totaled 620.7 million euros, compared with 544 million euros in the same period last year.
In the second quarter, revenues amounted to 312 million euros, compared with 309 million euros in the first quarter.
Luca Lisandroni, who shares the chief executive officer title with Riccardo Stefanelli, underscored that the “growth trend was registered across the board, and was balanced by channel, geography and gender.”
Men’s and womenswear each now represent 50 percent of sales.
The growth trend for the month of July was in line with the first half, he said responding to an analyst.
In the first six months, the Americas certainly helped the performance, as revenues in the region climbed 19.4 percent to 225.6 million euros, accounting for 36.4 percent of the total. Growth was reported in the major cities, but also in resort locations and provincial cities. Responding to an analyst, Cucinelli said the brand had “not yet seen any turbulence caused by the elections.” Asked about the potential Saks and Neiman Marcus deal, he said, “We have a wonderful relationship with both and I am sure we will continue to do a great job with them.”