By
Reuters
Published
May 10, 2013
Download
Download the article
Print
Text size

Italy's Cucinelli forecasts double-digit growth in 2013

By
Reuters
Published
May 10, 2013

MILAN - Italian cashmere goods maker Brunello Cucinelli forecast double-digit growth internationally in 2013 despite the recession in its domestic market reducing consumption of luxury goods.


Brunello Cucinelli Spring/Summer 2013

Total sales rose 14.4 percent in the first quarter of the year to 88.8 million euros ($116.28 million), helped by strong demand from North America and tourism flows in Europe.

However, sales in Italy declined 1.6 percent, at a slower rate than they had declined in the second half of 2012.

Net profit rose 14.8 percent to 8.2 million euros in the quarter. ($1 = 0.7637 euros)

© Thomson Reuters 2024 All rights reserved.