Why Brunello Cucinelli is the poster child of quiet luxury: the ‘King of Cashmere’ had a jump in profits in 2023, showing ‘stealth wealth’ fashion isn’t slowing down – especially not in China

Sep 12 , 2023

“King of Cashmere” Brunello Cucinelli is the poster child of quiet luxury. Photo: Brunello Cucinelli

The Italian fashion brand is known for its ultra-luxe US$2,000 jumpers evoking the style made popular in HBO’s Succession, which featured pieces like a US$600 Loro Piana baseball cap

Following flashy, post-pandemic ‘dopamine dressing’, quiet luxury’s timeless, pared-back approach is more appropriate amid the current economic climate compared to loud expressions of wealth

Business at “King of Cashmere” Brunello Cucinelli, which has become the poster child of the quiet luxury fashion movement, is booming.

The Italian luxury brand, known for its ultra-luxurious US$2,000 cashmere jumpers, raised its guidance for the year at the end of August after reporting a 31.9 per cent increase in profits during the first six months of the year. Sales were up 30.5 per cent on a constant currency basis during that time.

Brunello Cucinelli’s logo is seen on a door at their company headquarters in Solomeo village, near Perugia, Italy. Photo: Reuters

In a call with investors after reporting its results, the company’s executive chairman and creative director Brunello Cucinelli called out the quiet luxury movement as being a key contributor to its recent growth.

Brunello Cucinelli in Solomeo, the town in Umbria where he was born and still lives. Photo: Brunello Cucinelli

“This year, we’re actually harvesting the fruit of taste,” he said. “People’s taste is towards no logo … It’s about quiet luxury. So, of course, for us, this is a big advantage,” he added.

Timeless and understated looks from Brunello Cucinelli’s autumn/winter 2023 collection. Photo: Brunello Cucinelli

Quiet luxury or “stealth wealth” has been a leading movement and trend in fashion this year. It is considered to be the antithesis of the flashy “dopamine dressing” that dominated the fashion cycle after the pandemic. The focus is on wearing high-quality clothing and accessories that are both timeless and understated.

High-quality pieces from Brunello Cucinelli’s autumn/winter 2023 collection. Photo: Brunello Cucinelli

This aesthetic has been best characterised by the costume choices of the main characters in HBO’s series Succession. Think US$600 Loro Piana baseball caps and US$700 Tom Ford jackets.