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Brunello Cucinelli's shares plummeted 17% after a short seller accused it of selling luxury goods in Russia post-EU sanctions.
Italian luxury brand Brunello Cucinelli's shares dropped over 17% on Thursday, their largest one-day decline since 2012, after a London-based short seller accused the company of violating EU sanctions by selling luxury goods in Russia.
The report claimed secret shoppers found stores open in Moscow in August and September 2025, selling items made in Italy in 2024 and 2025—after the EU banned such exports in 2022.
Trading was halted for about four hours before resuming, closing at $85.08.
The company’s CEO said it operates in Russia under EU compliance rules.
The incident reflects broader concerns about Italian firms maintaining activities in Russia despite sanctions.
Las acciones de Brunello Cucinelli cayeron un 17% después de que un vendedor en corto lo acusara de vender artículos de lujo en Rusia después de las sanciones de la UE.