Cucinelli ups 2022 sales growth forecast to 25% after solid first 9 months

Italian luxury group Brunello Cucinelli on Wednesday again raised its revenue guidance for 2022 after posting a 23% jump in sales at constant exchange rates in the first nine months of the year.

The group, best known for its everyday cashmere outfits - which has earned it the moniker of Banana Republic of luxury - expects its revenues to grow around 25% in 2022 from a previous forecast of around 15%.

It confirmed a sales growth forecast of around 10% for 2023.

The company's sales in the January-September period stood at 642 million euros ($627.81 million).