Brunello Cucinelli (company)

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Brunello Cucinelli S.p.A.

Brunello Cucinelli shop in Madrid, Spain
Type	Società per Azioni
Traded as	BIT: BC
ISIN	IT0004764699
Industry	Fashion
Founded	1978; 44 years ago (1978)
Headquarters	6 Piazza Carlo Alberto dalla Chiesa, (Solomeo), Perugia , Italy
Key people	Brunello Cucinelli (President and CEO)
Revenue	€503.6 million[1] (2017)
Operating income	€50.975 million (2015)
Net income	€33.338 million (2015)
Number of employees	1,365 (2015 average)
Website	Official website

Brunello Cucinelli S.p.A. (Italian pronunciation: [bruˈnɛllo kutʃiˈnɛlli]) is an Italian luxury fashion brand which sells menswear, women's wear and accessories in Europe, North America and East Asia.^[2] The brand claims deeply rooted moral values, such as being a "humanistic enterprise" and using craftsmanship to lend moral dignity to both the artisan and the owner.^[3]

Background[]

Brunello Cucinelli started his couture house in 1978 with a specialty for cashmere garments for women. Cucinelli personally travels every year in the mountains of Mongolia to purchase cashmere directly from the producers.^[4]

In June 2014, owner Brunello Cucinelli transferred the ownership of Fedone Srl (which owned 61.56% of the fashion brand) to a new trust, Esperia Trust Company S.r.l., in a move to benefit his daughters and pursue his philanthropic work.^[5] In June 2015, Brunello Cucinelli opened its first store in Peru.^[6]

In 2017, Brunello Cucinelli recorded 500 million euro in sales, 35% of which in North America. The company owns 94 of its 124 branded stores worldwide.^[1] In January 2017, the company launched an ecommerce website.^[7] In January 2018, the founder Brunello Cucinelli sold 4 million shares of his company (owned through his holding Fedone Srl), and brought his participation down to 51% of the company's capital.^[8] Through this move, 6% of the company (worth 100 million euros) was invested in his family's charitable fund.^[9] In May 2018, the company opened its second store in Mexico. Both Mexican stores are located in the country's capital.^[10]

Organization[]

The company's products are all hand-made in Italy.^[11] Mr. Cucinelli's family trust owns 57% of the company's stock, which went public in 2012 at €7.75 per share.^[11] The company is headquartered in a 14th-century castle on the top of a hill in the middle of Umbria, an area known as the "green heart" of Italy.^[12]

The company donates 20% of profits to its charitable foundation, and pays workers wages that are 20% higher than the industry average.^[13] The company's 1,300 employees (of whom 800 work in Solomeo) do not punch a time clock; after-hours e-mails are not allowed.^[11] As of June 2017, the company has a market capitalization of over €1.6 billion.^[14]

Clientele[]

Jeff Bezos wears Brunello Cucinelli sport coats.^[15]

See also[]

• Made in Italy
• Loro Piana
• Kiton
• Billy Reid

References[]

External links[]

• Official site
• "Brunello Cucinelli Clothes Can Make You a Better Man. Provided You’re Very, Very Rich." JON CARAMANICA, The New York Times, April 1, 2015

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