Italian luxury group Brunello Cucinelli nudged up its 2023 sales guidance, the third increase this year, after posting a 31.9 percent jump in net profit for the first half of the year.

“As eight months of this very interesting year have now gone by, and given the excellent start to sales at the boutiques of the Autumn-Winter collections, we envisage a pleasant end to the year with a turnover up around +19 percent and profits that we could define as ‘highly appreciable’, founder and executive chairman Brunello Cucinelli said on Tuesday.

The brand, best known for its cashmere clothing, also confirmed that it expected a 10 percent sales increase in 2024.

In July, alongside the half-yearly revenues data, the company had raised its 2023 sales guidance and forecast growth in a range of 17-19 percent.

By Claudia Cristoferi; Editor Keith Weir

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