Brunello Cucinelli — Earnings Release 2018

Nov 6, 2018

9M 18 Sales

November 6 th , 2018

Brunello Cucinelli

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press release 6 th November 2018

"2018 is drawing to a close and - to our immense pleasure – further growth was confirmed in terms of both double-digit revenues and profitability, but also and above all in terms of brand positioning and credibility. "

"The truly very very positive performance of our winter collections and the appreciation displayed for the next summer ones also in terms of order collection lead us to envisage further double-digit increase in 2019."

"On a personal note, I have just come back from several trips around the world and I am now back with renewed, great confidence in our country. Abroad there is still strong admiration for our culture, our handcrafted products, and our ability to find the best and beautiful side in

"Maintaining the quality of products that the world expects from us will be increasingly important. This will be the future for our company: preserving the harmony of places and people we are renown for, maintaining the creativity, craftsmanship and exclusivity acknowledged to us by experts and customers, designing fresh, modern and contemporary collections of very high standing, representing the true essence of luxury."

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€ mln	9M 17	9M 17 Restated**	9M 18	YoY % Chg
Net Revenues*	384.2	389.9	422.1	+8.3%
			Constant exchange rates +10.9%
Italy	70.6	70.6	74.4	+5.5%
Rest of Europe	116.1	116.1	127.4	+9.7%
North America	130.2	131.3	135.7	*** +3.3%
Greater China	29.5	29.5	38.1	+29.2%
RoW	37.9	42.6	46.6	+9.5%

for coming quarters

Revenues Breakdown

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Revenues by Area - Highlights

Rest of Europe

The solidity of the growth in all Countries, with constant presence of "traditional" customers, to whom are then added new customers

Positive tourist trend, with an increased presence of Chinese and Asian customers, as well as from other parts of the world

Greater China

Increase thanks to the potential of the market and to the offering of a collection, representative of Made in Italy craftsmanship, with increasing attention to NO-LOGO offering

Huge potential of China in the long term, targeted in a gradual manner, maintaining the brand's prestige

Increasing demand of clients who already know our brand and new customers, in particular "millennials"

Italy

Italian market stay very important for the brand's image, especially within the prêt-à-porter offer

Positive trend is the combined result of purchases by local customers and top-end tourism, which is constantly increasing

North America

Allure of the brand, Contemporaneity of the offer, attention to Visual Merchandising in all the sales spaces supported the positive results achieved in both the monobrand and multibrand channels

Sharing with customers of the business's values all of which characterized by special and consolidated relationships with the leading Luxury Department Stores

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Rest of the World

Solid sales results were achieved in all geographical areas and the various distribution channels

Significant appreciation of our collections both in relation to domestic demand and topend tourism

Revenues by Distribution Channel

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€ mln

* 9M 17 retail revenues reported last year (187.3€ mln) have been restated, applying the same methodology, to make an homogenous comparison with 9M 18

Monobrand Network

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Wholesale Monobrand

27 boutiques as of Sept. 18 (30 boutiques as of December '17)

1 new openings and 4 monobrand boutiques converted to the direct channel

Retail

100 boutiques as of Sept. 18 (94 boutiques as of December '17)

Selected openings, including 2 boutiques and 4 conversions from wholesale monobrand channel

Sustainable LFL performance

Collections Trend

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Men Offering

Positive 2018 fall/winter sales as well as 2019 spring /summer back-log orders

Pleasant impression that the collection was seen as being young, refined and representative of Italian taste and Made in Italy products, also and above all thanks to the details and particulars that characterize it

"Sartoria Solomeo" project, initially introduced in the 25 most important boutiques with the idea of producing made-to-measure men's suits where the tailor – young and receptive to the trends of the moment.

Wholesale Multibrand trend

Significant increase supported by the sell-outs in the existing spaces, and by new spaces assigned to the brand in the Luxury Department Stores

Solidity of the results and the special relationship created over the years; selective entry into new multibrand stores, including those in Continental China

Women Offering

2018 fall/winter collections sales increase showing interesting sell-outs

Positive 2019 spring/summer orders collections which has been completed over the past few weeks; remarkable feedback from the international press on the presentation during women's fashion week in Milan

Investor Relations

Significant Shareholdings*

Trust Brunello Cucinelli (Fedone s.r.l.)	51.0%
FMR LLC (Fidelity)	10.0%
Oppenheimer Funds	4.9%
Other	34.1%

Board of Directors

Brunello Cucinelli	Chairman and C.E.O.
Moreno Ciarapica	Director and C.F.O.
Riccardo Stefanelli	Director and Co-C.E.O.
Luca Lisandroni	Director and Co-C.E.O.
Camilla Cucinelli	Director
Giovanna Manfredi	Director
Carolina Cucinelli	Director
Andrea Pontremoli	Lead Independent Director
Candice Koo	Independent Director
Matteo Marzotto	Independent Director
Massimo Bergami	Independent Director

Investor Relations & Corporate Planning Director

Pietro Arnaboldi	Brunello Cucinelli S.p.A.
mail: pietro.arnaboldi@brunellocucinelli.it	Viale Parco dell'Industria, 5
	Solomeo (PG)
Tel. +39 075 6970079	Italia

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* As of the date of this document based on Consob major shareholdings disclosures

This presentation may contain forward looking statements which reflect Management's current views and estimates.

The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements.

Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments.

Figures as absolute values and in percentages are calculated using precise financial data. Some of the differences found in this presentation are due to rounding of the values expressed in millions of Euro.

The Manager in Charge of preparing the Corporate accounting documents, Moreno Ciarapica, declares pursuant to and to the effects of article 154-bis, paragraph 2 of Legislative Decree no. 58 of 1998 that the disclosures included in this release correspond to the balances on the books of account and the accounting records and entries.