Brunello Cucinelli expects to limit its drop in sales this year caused by the coronavirus crisis to 10% and said it would writedown 30 million euros of unsold garments, which would be donated to humanitarian causes.
Due to lack of participation, the Florence menswear show, whose June session had initially been postponed to September, will not take place. Organiser Pitti Immagine’s other summer shows will not be staged either.
As previously announced, Brunello Cucinelli is stepping down from his label's day-to-day running: he remains executive president and creative director, while Luca Lisandroni and Riccardo Stefanelli are the new co-CEOs.
In Q1 2020, the Italian label recorded a 2.3% slump in revenue, down to €156.7 million, especially felt in its monobrand stores in Italy, the rest of Europe and China, while the wholesale channel helped stem losses.
This season, the Milan Fashion Week Men’s has teamed up with London, and will welcome a spate of new names and major comebacks, from Gucci to Ferragamo, to bolster its programme and make up for 11 withdrawals.
The Milan Fashion Week Men, scheduled on January 10 to 14, will be half a day longer and will feature many come-backs and new names, among them Gucci and A-Cold-Wall, compensating for no fewer than 11 withdrawals.