Valentino

PARIS - This year Valentino expects sales growth of at least 15% thanks to an upturn in demand in the United States and Europe.

The CEO of the luxury Italian label Stefano Sassi told Reuters this on the sidelines of a fashion show in Paris. The estimate beats the previous forecast, a 10% increase, made in June.

"Revenues will increase by double digits, we will see by exactly how much, but probably 15%," said Sassi. The CEO added that it will take at least two years for the group's turnover to go back to the record levels that were reached in the first half of 2008.

Valentino is controlled by private equity group Permira [PERM.UL], which also has a majority stake in the German Hugo Boss (BOSG_p.DE: Quote).