Brunello Cucinelli is a fashion company headquartered in Solomeo in Umbria, Italy. It was founded in 1978 by stylist and philanthropist Brunello Cucinelli, who also serves as Executive President and Creative Director. Operating in the personal luxury goods segment, the company designs, manufactures, and distributes men’s and women’s clothing and accessories collections, including knitwear, outerwear, shirts, trousers, skirts, footwear, bags, and small leather goods. Specializing in Cashmere, Brunello Cucinelli is renowned for being an exclusive luxury brand affordable only to the wealthy. Its products are sold through a network of retail and wholesale stores (monobrand and multibrand), which contribute equally to revenue generation. In 2020, about 90% of the distribution network existed outside of Italy. The company has 28 subsidiaries located in Europe, North America, Latin America, and Asia, and a global employee base of about 2000.
Brunello Cucinelli is a highly innovative company. The brand’s distinctive elements are craftsmanship, exclusivity, and contemporaneity, built on the values of “human dignity” and “the beauty of creation.” Leveraging this brand identity, revenues at the company more than tripled between 2010 and 2019 to Є608 million while core profit increased sevenfold in the same period. North America is its largest market, with an average contribution of 35% to the company’s revenues over the past 6 years. Brunello Cucinelli was listed on the Milan Stock Exchange in 2012. Its market capitalization has since appreciated by 361% to reach Є2.4 billion by the end of 2020.
The company’s humanistic approach to business has enabled it to build an ethical brand that is affirmed by a strong ethical corporate culture. For instance, during the Covid-19 pandemic when its competitors were seriously discounting garments with a view to still make profits, Brunello Cucinelli—in the spirit of humanity—gave away Є31.7 million worth of luxury clothes to “people who could hardly afford a Є30 top, let alone a Є3,745 cashmere sweater.” While the global luxury goods market contracted by 22% during the COVID-19 pandemic in 2020, the company only experienced a small decline of 10%, well below the world average.
For his gracious growth philosophy and ideals, Brunello Cucinelli has also received various national and international awards. For instance, he was appointed as “Cavaliere di Gran Croce al Merito della Repubblica Italiana” (Knight Grand Cross of the Order of Merit of the Italian Republic) and “Cavaliere del Lavoro” (Knight of Industry) by the President of Italy. In 2011, he received the “Premio Guido Carli” award from the Council of Ministers in Italy for distinguishing himself as an entrepreneur who “bases his work on fundamental values of respect for people and the environment.”