Reporting by Alberto Chiumento, Romolo Tosiani; Editing by Kirsten Donovan and David Evans
A logo of Brunello Cucinelli is seen on a door at their company headquarters in Solomeo village, near Perugia, Italy, September 4, 2018. Picture taken September 4, 2018. REUTERS/Alessandro Bianchi/File Photo Acquire Licensing Rights
Oct 19 (Reuters) – Italian luxury group Brunello Cucinelli (BCU.MI) on Thursday raised its revenue guidance for 2023 again after posting a jump in sales at constant exchange rates in the first nine months of the year.
The group, best known for its cashmere outfits, expects revenue to grow around 20%-22% in 2023 from a previous forecast of around 19%, it said in a statement.
It confirmed its 2024 sales growth forecast at 10%.
Cucinelli expected sales in 2025 to grow by 10% thanks to a “good visibility, supported by the structural characteristics of high-end luxury demand, the potential for growth in all markets and in both channels and the selected ongoing boutique opening project,” it said in a note.
Sales in the January-September period totalled 818.4 million euros ($865.5 million), up 27.5% from 642 million euros last year.
($1 = 0.9456 euros)
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