Brunello Cucinelli
S.p.A. () is an
Italian luxury fashion brand which sells
menswear, women's wear and accessories in Europe, North America and East Asia.
History
Brunello Cucinelli started his couture house in 1978 with a specialty for
Mongolian cashmere garments for women.
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.
In 2017, Brunello Cucinelli recorded 500 million euro in sales, 35% of which in
North America
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...
. The company owns 94 of its 124 branded stores worldwide.
In January 2017, the company launched an
ecommerce website. 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. Through this move, 6% of the company (worth 100 million euros) was invested in his family's charitable fund. In May 2018, the company opened its second store in Mexico. Both Mexican stores are located in the country's capital.
Organization
Cucinelli's
family trust owns 57% of the company's stock, which
went public
Going public may refer to:
* Initial public offering, financial action by a business
* Whistleblowing, exposure of previously private information
* ''Going Public'' (Newsboys album), 1994
* ''Going Public'' (Bruce Johnston album), 1977
{{Dis ...
in 2012 at €7.75 per share.
[Jeffrey Podolsky]
"The Cucinelli Philosophy: Understated Brunello Cucinelli has become a billionaire on elegant casual wear"
'' Barron's'', November 28, 2015 The company is headquartered in a 14th-century
castle
A castle is a type of fortified structure built during the Middle Ages predominantly by the nobility or royalty and by military orders. Scholars debate the scope of the word ''castle'', but usually consider it to be the private fortified r ...
on the top of a hill in the middle of
Umbria, an area known as the "green heart" of
Italy.
The company donates 20% of
profit
Profit may refer to:
Business and law
* Profit (accounting), the difference between the purchase price and the costs of bringing to market
* Profit (economics), normal profit and economic profit
* Profit (real property), a nonpossessory intere ...
s to its charitable foundation, and pays workers
wages
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as ''minimum wage'', ''prevailing wage'', and ''yearly bonuses,'' and remuner ...
that are 20% higher than the industry average. 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.
As of June 2017, the company has a
market capitalization
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders.
Market capitalization is equal to the market price per common share multiplied by t ...
of over €1.6 billion.
Listed stock
investor.brunellocucinelli.com Accessed: June 2017
See also
* Made in Italy
* Loro Piana
* Kiton
* Billy Reid
References
External links
Official site
JON CARAMANICA, '' The New York Times'', April 1, 2015
Luxury brands
Italian suit makers
Shoe companies of Italy
Companies based in Umbria
High fashion brands
Italian brands
Clothing companies established in 1978
Italian companies established in 1978
Companies listed on the Borsa Italiana
Altagamma members
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