Brunello Cucinelli raised its 2026 revenue growth forecast to 12 percent at constant exchange rates (growth stripped of currency swings), up from the 10 to 11 percent guided in July, after nine-month sales rose 10 percent to 1.12 billion euros from 1.02 billion euros a year earlier. At constant rates, nine-month sales climbed 13 percent.

The Italian luxury house also flagged growth of around 10 percent for 2027, citing the performance of the spring men's and women's collections. That is a projection, not a booked result. No margin, inventory or order-book data accompanied the sales figures.

Third-quarter revenues rose 13.5 percent at constant rates to 374.2 million euros, slightly above expectations, with all geographic markets and product categories contributing. Men's and women's collections split sales equally.

What did management actually say?

Founder, executive chairman and creative director Brunello Cucinelli told analysts during a conference call after Thursday's close: "We believe that the brand's image around the world reflects what we have always aspired to: a belief in absolute luxury, without logo."

He added: "We also feel that ours is not a mass-market renown." That positioning claim frames the pricing strategy, but the release offers no average-price or unit-volume figures to verify it. Management did cite an increase in both the average ticket and customer numbers.

CEO Luca Lisandroni said the first two weeks of October also performed well and that the third quarter showed "continuous and constant growth, balance in each quarter across markets and channels."

Where is the growth coming from?

The regional split for the nine months ended Sept. 30:

• Americas: sales up 14 percent to 418.3 million euros, 37.2 percent of total; up 20 percent at constant rates. New stores opened in Nashville and Naples, Florida, in the first part of the year, plus San Diego in the third quarter.
• Europe: up 6 percent to 393.9 million euros, 35.1 percent of total. Retail posted double-digit increases in the third quarter, supported by local customers and international tourists.
• Asia: up 10 percent to 311.4 million euros, 27.7 percent of total; up 14 percent at constant rates. China remains a principal growth driver. A Casa Cucinelli store opens in Shanghai next week, the Plaza 66 store in Shanghai expands by year-end, and the China World store in Beijing expands next year.

The Middle East held up despite the war, though the region trades through the natural low season of July and August. A planned Abu Dhabi store opening has slipped to next year — a concrete timeline deferral inside an otherwise positive release.

Which channels are carrying the number?

Retail revenues grew 15 percent to 741 million euros, 66 percent of total, and 19 percent organically (excluding acquisitions and currency effects). The third quarter was up 17 percent at constant rates, with like-for-like sales in line with the first half. The network counted 142 directly operated boutiques as of Sept. 30, boosted by flagship relocations on Rue Saint-Honoré in Paris and Rodeo Drive in Los Angeles, plus the London Bond Street expansion.

Wholesale rose 2 percent to 382.5 million euros, 4 percent organically. Cucinelli praised partner Exemplar Luxury Group, owner of Saks and Neiman Marcus, for its "punctual payments" — a notable mention at a time when department-store credit risk weighs on vendor negotiations — and said men's and women's spaces at Bergdorf Goodman are expanding.

The online channel holds a 7 percent sales share. Management positioned it as a store-traffic driver rather than a volume channel. CEO Riccardo Stefanelli cited "the quality of traffic of Callimacus," the platform backed by Cucinelli's Solomei AI research center, saying it has doubled visitor dwell time; Salesforce has invested in the platform. Doubling dwell time is a platform metric, not a revenue figure, and none was offered.

What about succession?

Cucinelli, 73, addressed generational handover. At 58 he set up an "irreversible" trust for daughters Carolina and Camilla; at 63 he moved to the executive chairman role. He said "everything had been defined" for the period after his death, and stressed family control despite the public listing.

The company will test its raised guidance quickly: fourth-quarter delivery depends on whether October's momentum, Chinese expansion and the retail pipeline hold through the season, with the 2027 target of around 10 percent already on the table.