(Alliance News) - Brunello Cucinelli Spa announced Wednesday that it expects to end the year with positive results, five days before it debuts on the FTSE Mib of Borsa Italiana.

"After the beautiful results of the nine months and the very interesting growth in October, November and the first part of December, we envision for 2023 a very good growth in revenues, between 22% and 23% at current exchange rates - over EUR1.1 billion -, raising estimates compared to previous expectations of between 20% and 22%, with a very important marginality and profit, within our idea of polite growth and healthy profit," said the founder of the eponymous brand, Brunello Cucinelli.

"We therefore expect very interesting growth for the fourth quarter of 2023, also in view of the progressively increasing comparison base of the previous year. We anticipate very positive sales in all geographic areas and all channels, with growth that we imagine clearly shows the demand for exclusive, highly crafted, chic, luxurious and fine products. In particular, we attach great value to the balance of results both in the distribution channels - retail and wholesale - and in the different geographic areas; a balance that is also seen in the offering of women's and men's collections as well as in the results achieved in the different product categories."

For 2024, the company envisions solid sales growth around 10 percent, thanks to the beautiful order intake completed for the Women's and Men's Spring-Summer 2024 collections, the excellent start of the Fall-Winter 2024 sales campaign, and the planning of new openings and expansions already contracted.

"As for 2025, we estimate healthy sales growth around 10 percent, with visibility that we would call 'concrete,' supported by our planning and the structural characteristics of high-end luxury demand."

Brunello Cucinelli's stock closed Wednesday up 2.8 percent at EUR82.35 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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