(Reuters) - Italian luxury fashion group Brunello Cucinelli on Wednesday said sales had risen 10.5% at constant exchange rates in the first quarter, boosted by a solid performance in retail and wholesale channels.

Cucinelli confirmed its expectations for sales growth of around 10% in both 2025 and 2026 despite looming U.S. tariffs.

The clothing brand, best known for its cashmere garments, sold 37% of its products in the Americas region last year.

Sales came in at 341.5 million euros ($388.2 million), broadly in line with an analysts’ forecast of 343 million euros, according to LSEG data.

Amid a slowdown in luxury demand, the group has so far outperformed the industry thanks to its high-end positioning.

($1 = 0.8797 euros)