By
Reuters
Reuters
Published
May 10, 2013
May 10, 2013
Italy's Cucinelli forecasts double-digit growth in 2013
By
Reuters
Reuters
Published
May 10, 2013
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.
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)
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