What contradictory statements did Cucinelli make about its Russia business?

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Cucinelli Made Contradictory Statements Regarding its Russia Operations

Brunello Cucinelli has been accused by Morpheus Research of issuing contradictory and misleading statements concerning its business activities in Russia. These statements allegedly claimed that the company's stores were closed or that its employees were merely offering style and advisory services, which contrasts with the reality of its ongoing operations.
Allegations of Misleading Statements on Store Operations

Morpheus Research highlighted that spokespersons for Cucinelli provided conflicting information about the status of its physical presence in Russia. These representatives reportedly stated that the company's stores were closed. This assertion has been directly challenged by findings that Cucinelli boutiques remained open in Moscow during the summer.
Claims of Limited Staff Services vs. Actual Business Conduct

Further allegations suggest that company spokespersons described Cucinelli's staff as solely providing style and advisory services. This portrayal appears to be at odds with the company's own explanation that its staff offers an "assistance service within our showroom upon request from end customers." The volume of business, with its Russian subsidiary generating approximately €15 million in revenue over 2023 and 2024, suggests operations beyond simple consultation.
Discrepancy in Product Sales and Inventory Management

Cucinelli stated that the products available for sale were legally shipped to Russia within EU limits, alongside residual inventory delivered before sanctions were imposed. This statement aims to clarify the source of goods, but it exists within a context where Morpheus Research alleged that "ultra high-value luxury goods" were being sold, seemingly in violation of EU sanctions prohibiting exports exceeding €300 to Russia. The report indicated that boutiques were selling items recently made in Italy priced at several thousand euros.

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What contradictory statements did Cucinelli make about its Russia business?

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