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"Brunello Cucinelli, the 59-year-old founder of the luxury fashion house that bears his name, has become a billionaire.Knitwear brand Brunello Cucinelli SpA has more than doubled in value since its initial public offering in Milan last April, giving Cucinell a net worth of at least $1bn, according to the Bloomberg Billionaires Index. He has never appeared on an international wealth ranking. 'From the beginning we hoped for a positive and gentle listing', Cucinelli said by phone from his Milan showroom through a translator. 'Investors appreciate our quality, our positioning in the absolute luxury market and our Italian heritage'. The Solomeo, Italy-based company, which sells $4,530 suede jackets and $1,920 cashmere cardigans, had sales of $360 million in 2012, up 15.6% in a year. Cucinelli&amp;rsquo;s 63% stake in the business&amp;nbsp;is valued at $947m. He collected more than $90m selling shares in the IPO. Hit the link below to access the complete Bloomberg article: Cucinelli Becomes Billionaire Knitting $1,920 Cardigans Investec Bankers Plan Larger Stake After $280 Million Deal Goldman Sachs Traders Lost Money on Two Days in First Quarter image: &amp;copy; elitattAnd the Best Place to Work in the global financial markets 2015 is..."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.hitc.com/en-gb/2013/05/09/this-man-became-a-billionaire-knitting-cardigans/>