Billionaire Cucinelli Sets Profits Cap to Thrive for Centuries
- Founder wants ‘fair profit’ for all fashion house stakeholders
- Investors say they see appeal in Cucinelli business model
Brunello Cucinelli likes making money but the Italian billionaire wants his workers and suppliers to benefit too. In an industry which posts eye-popping margins, his namesake luxury cashmere house pours profits into better pay and working conditions. Investors, so far, appear to be on board.
Since listing in Milan in 2012, shares in Brunello Cucinelli SpA — purveyor of €13,500 ($14,900) curly shearling capes and €800 cashmere hoodies — have increased about 10-fold, widely outperforming the MSCI Europe Textile Apparel and Luxury Goods Index.