Cucinelli confirms targets and responds to accusations: 'In Russia we respect the rules'

Brunello Cucinelli closed the first nine months of the year with revenues of €1,019.6 million, up 10.8% at current exchange rates over the same period in 2024, and 11.3% at constant exchange rates. For the fashion group, these are "excellent" results that offer "even clearer visibility and even more solid confidence in the achievement of the targets set for 2025, with expected revenue growth of around +10%, always accompanied by healthy and balanced profits" and that allow us to confirm "with renewed confidence> the expectation of revenue growth of "around +10% also for the year 2026"

The group then responds to the accusations made by the bearish fund Morpheus Reserach, which in recent days have led to a sharp drop in the share price: Brunello Cucinelli confirms "the presence of a 'fair and balanced' stock for our identity as a company, perfectly consistent with the fundamentals of our collection offer and aligned with the historical data of our Ready-to-Wear fashion house since its listing, and to operate in the Russian market in accordance with EU rules". On the subject of Russia, the group specifies that "the weight of this market is 1.4% as at 30 September 2025 compared to 2.7% as at 30 September 2024 (2.4% the relative weight as at 31 December 2024)".

"Women's Fashion Week in Milan has come to an end: our collection has received extremely positive reviews for style, craftsmanship, quality and exclusivity, and we are clearly very satisfied with this," said Brunello Cucinelli, executive chairman and creative director of the fashion house, in his note on the results as at 30 September. "Of course, if this week had not seen what we have called 'short selling activities' regarding our fashion house, it would have been preferable, and a little less challenging for me and for the two CEOs and the Investor Relator; but what happened is part of being listed on the stock exchange and its rules," he said.