Retail Momentum In The Americas And Asia Drives Performance As The Brand Maintains A Cautious View On Global Conditions
Brunello Cucinelli reported a strong start to 2026, with first-quarter revenue rising 8.1 percent to €369.1 million, supported by robust retail growth across the Americas and Asia. At constant currency, sales increased 14 percent, exceeding internal expectations.
“The first quarter of 2026 started on a positive note, further accelerating compared to the already positive conclusion of 2025, particularly in the Americas and in China, and even better than our expectations,” said chief executive officer Luca Lisandroni.
Retail continued to be the primary growth driver, with sales in the channel rising 12.9 percent to €238.2 million, accounting for 64.5 percent of total revenue. On a constant currency basis, retail surged 20.1 percent, supported by like-for-like growth, new store openings, and higher average spending. The company also noted a shift in product mix toward higher-value categories, reinforcing its positioning in the luxury segment.
Wholesale performance remained more subdued, with revenue up 0.3 percent to €130.9 million, or 4.3 percent at constant currency, reflecting a more cautious environment in multibrand distribution.
Regionally, the Americas delivered the strongest gains, with revenue increasing 9.4 percent to €137.7 million, or 20.3 percent at constant currency, representing 37.3 percent of total sales. Asia followed, with revenue up 11.3 percent to €106.7 million, driven by continued strength in China and improving momentum in Hong Kong, which Lisandroni described as returning to “a very strong pole of attraction.”
In Europe, sales rose 4.2 percent to €124.7 million. While no new stores opened in the region during the quarter, the company benefited from recent expansions of its flagship locations in London’s Bond Street and Paris’s Rue Saint-Honoré.
The company continued to expand its retail footprint globally, opening boutiques in Boca Raton and Naples, Florida, and in Wuhan, China during the quarter. Additional openings are planned in Vancouver in the second quarter, followed by locations in Abu Dhabi and Mexico City toward the end of the year or early 2027. Further store expansions are also scheduled in Geneva, Toronto, and Shanghai, where a new Casa Cucinelli concept will debut in August.
Cucinelli confirmed its outlook for approximately 10 percent revenue growth at constant exchange rates for both 2026 and 2027, signaling confidence in sustained demand despite a complex macroeconomic environment.
The company acknowledged the impact of geopolitical tensions, particularly the war in the Middle East, noting a 50 percent decline in sales in the region. However, the Middle East accounts for only about 5 percent of total revenue, limiting its overall impact on performance.
In the U.S., shipments to Saks Global resumed in mid-January with regular payments, and sales through the retailer have shown growth compared to the same period last year. The brand is also planning to expand its presence at Bergdorf Goodman and convert several Saks locations into concessions.
Despite the strong financial performance, founder Brunello Cucinelli struck a reflective tone, emphasizing the importance of adaptability and measured decision-making in a volatile global context. As the company builds on its momentum, it continues to balance growth ambitions with a cautious approach shaped by broader economic and geopolitical uncertainty.