Italian luxury group Brunello Cucinelli on Wednesday raised its sales growth guidance for 2023 to 15 percent, up from its previous estimate of 12 percent, on the back of a strong start to the year and significant orders for coming seasons.

The brand known for cashmere clothing posted earnings before interest and taxes (EBIT) at €134.4 million ($141.6 million), above a €133.0 million analyst forecast based on a SmartEstimates consensus provided by Refinitiv.

Brunello Cucinelli proposed the distribution of a dividend of 0.65 euros per share. ($1 = 0.9490 euros)

By Romolo Tosiani

Learn more:

Brunello Cucinelli Acquires 43% Stake in Italian Cashmere Supplier

The Italian house best known for its cashmere knitwear paid €15.05 million for a 43 percent stake in its long-time supplier of the luxury fabric, Lanificio Cariaggi Cashmere.