La Rivista Euler Hermes Italia n°55

la RIVISTA Euler Hermes Italia
Brunello Cucinelli took this great leap starting in
1978, when he founded the company, to April
2012 when, as the first company in the world to
introduce coloured cashmere to the market, the
company went public.
Over this period of time the group has grown,
becoming a symbol of the “made in Italy” brand
in the world, but above all of beauty and of
values inspired by social humanism, something
which the Umbrian entrepreneur has embraced
right from his early days.
It is a luxury market, a choice which has turned
the Brunello Cucinelli into one of the most
exclusive brands in the casual-chic fashion at a
world level.
Looking at the financial results over the latest
years we discover that the economic crisis has
not affected the growth of the Group in the last
five years. In 2009 the total takings amounted
to 158,1 million euros, rising to 203,5 million in
2010 and reaching 242,6 million in the last
accounts year ending 2011. In this scenario,
Italy represents only 31% of its trade, while 31%
is from elsewhere in Europe, 28% from North
America, 4% from China and 6% from the rest of
the world. This all happened before floating the
company on the stock exchange. Now because
of its public status, as its founder states in the
interview, «it is attracting new capital which
allows us to maintain a presence in the market,
to continue to make new investments and
attract a new work force».
You have recently chosen to float your
company and you have done so in a financial
period which is not exactly easy. What type
of added value have you obtained from this
operation?
«I like to think that we are not owners of things,
but temporary “guardians” of them; if we think
in this way, what surrounds us does not end
with us but instead has an eternal value. This is
why we decided to float on the stock exchange
market, so that it will allow us to move forward
for a little longer. Going public, in addition to
attracting new capital, allows us to keep up to
date with the contemporary market by
constantly making new investments, at the
same time it attracts the attention of a new
workforce: new managers who are able to
discover new horizons and perhaps lead our
company. I have two daughters Camilla and
Carolina who work here in the company, but I
have always said that you cannot inherit a
company; they are free to choose if they wish to
continue down this path».
You have filled your company and products
with strong artistic content aiming to
embrace the concept of beauty. Are these
values also recognized abroad when the
beauty of a “made in Italy” product is
presented?
«Often when I travel, I must say that the
feedback we receive from people is astonishing.
The “made in Italy” brand in our sector is
generally perceived as a real status symbol».
Italian industry has manufacturing
inspiration in its blood but in the rest of the
world we are known for Tod’s or Geox shoes,
Cucinelli jumpers, Luxottica glasses and
Armani clothes. Should we be focusing more
on taste?
«I like to think that our products are unique as
they come from the combination of constant
research and innovation with culture and
tradition. A lifestyle which tells the story of the
Italian way of living and working, its pride,
tolerance, dedication, spirituality and mysticism.
A story which is deeply rooted in the heritage of
great craftsmanship and brings with it the scent
of old towns and the knowledge of the artisans,
the art and culture of our country which is open
to the spirit of change, research, creativity,
modernity. To do this we need knowledgeable
hands but also the heart of generous people
who are proud of their origin and attached to
their land».
It is said that the luxury market, products of
extremely high quality have not been
affected by the economic crisis. Is this
hypothesis confirmed by the facts?
Speciale
«I would say that rather than the world of luxury
itself, certainly the chances of success for
products which have an extremely high quality
of creativity, craftsmanship are more likely to
make a deeper impression on the market. In
this difficult economic, moral and civil period, I
believe that in some way we are redesigning
humanity. One cannot rule out the possibility
that this economic crisis could eventually have
beneficial consequences. There is something
extraordinarily topical in the story of St
Augustine when, turning to God, he says: “O
most wonderful, all powerful ruler of the
universe, You send us pain to be our teacher.” I
am convinced, in particular for Italy, that the
future ahead is secure if we are capable of
producing high quality goods with high levels of
craftsmanship, great uniqueness, qualities
which belong to the tradition of our people».
Looking at the world, where do you think the
greatest possibility for appreciating our
products lies and therefore where are you
looking in order to continue growing?
«In my opinion it is difficult to measure the
sensibility of the human soul, it is more simple
however to understand the countries which
have greater economic capacity in this period; I
am thinking for example about the great China
and Russia where I have visited recently. Today,
in particular, young people look to the West:
they want to live like us, but above all they want
to dress like us and have a similar style to ours».
You have been defined as a humanist
entrepreneur. How important is it today,
faced with a crisis which has perhaps put too
many examples of greedy capitalism on
show, to re-launch the values and image of a
healthy entrepreneurship which recognizes
the importance of human capital?
«My dream has always been to give back
economic and moral dignity to work and in my
personal experience, even when confronting
extremely important investors who we have met
during this very special year, this model has
always been happily accepted. How can we
have wonderful companies with people who
earn 980 euros? How can we think about
making an extremely high quality product if our
workers cannot have a slightly more meaningful
life? Human capital must be valued because
that is where everything comes from, especially
in a particular historical period like this when
our country needs to be believable».
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