Here’s a shocking truth: even in the midst of retail turmoil, some luxury brands are not just surviving—they’re thriving. Brunello Cucinelli is one such brand, and its recent financial revelations are turning heads. In a bold move, the Italian luxury powerhouse accelerated the release of its 2025 financial results, nearly a month ahead of schedule. Why? Two reasons: to freely discuss business during the upcoming Milan Fashion Week and to address the elephant in the room—its relationship with Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, following Saks Global’s Chapter 11 bankruptcy filing. But here’s where it gets intriguing: despite the retail giant’s financial woes, Cucinelli’s partnership with these department stores remains not just intact but flourishing.
During a candid conference call with analysts, Brunello Cucinelli himself emphasized the brand’s 30-year-strong relationship with these retailers. He clarified, ‘We don’t comment on the merger, but we’ve always treated each department store as a unique entity with its own identity.’ And this is the part most people miss: Cucinelli revealed that only a small percentage of customers overlap across these stores, a testament to their distinct positioning. Controversial? Perhaps. But it’s a strategy that’s clearly paying off.
Cucinelli’s 2025 results were nothing short of impressive, with net profit soaring to €142 million, a 10.5% increase from the previous year. Turnover climbed to €1.4 billion, up 10.1%, while earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 12% to €408.4 million. Even more striking? The brand’s gross margins exceeded expectations, hitting 75.2%, thanks to a favorable mix of channels, geographies, and products. But here’s the kicker: Cucinelli set aside an extraordinary provision of €8.1 million related to Saks Global, yet this had no impact on its 2026 outlook.
Speaking of 2026, the brand is already off to a flying start. CEO Luca Lisandroni highlighted ‘a continuation of the very positive trend in sales to end customers,’ with growth in both spending per customer and average purchase value. Retail and wholesale are booming, with North America, Europe, and Asia all showing robust performance. And this is where it gets even more exciting: Cucinelli is expanding its global footprint, with new stores planned in Mexico City, Abu Dhabi, Wuhan, and Florida, among others. By the end of 2026, the brand expects Asia to account for 33% of total sales, up from 13% today. Bold prediction? Absolutely. But with China showing consistent growth, it’s not entirely far-fetched.
Now, let’s talk about the elephant in the room: Saks Global’s bankruptcy. While the closures of certain Saks stores have had a marginal impact on Cucinelli’s distribution, the brand’s leadership is optimistic. They’ve praised the new management team, led by CEO Geoffroy van Raemdonck, for their focus on ‘a more select number of stores and a curated selection of high-end brands.’ But here’s the controversial question: Is this a sustainable strategy in an increasingly democratized luxury market? Or is Cucinelli’s success a testament to the enduring appeal of exclusivity?
As the brand looks ahead, it’s not just about numbers. Cucinelli is also making waves in the cultural sphere. The documentary ‘Brunello, the Gentle Visionary’, directed by Giuseppe Tornatore, is set to premiere in New York’s Lincoln Center in April, following its debut in Rome. And this is the part that’s truly inspiring: Cucinelli’s story isn’t just about luxury—it’s about craftsmanship, heritage, and a vision for a more ethical and sustainable fashion industry.
So, here’s the burning question: Can Brunello Cucinelli continue to defy industry trends and set new benchmarks for luxury? Or is its success a fleeting moment in an ever-changing market? Let us know your thoughts in the comments—we’d love to hear your take on this fascinating brand and its bold strategies.
