The company, known for its cashmere clothing, said on Monday sales decreased last year to 544.1 million euros ($662.12 million) compared with a Refinitiv consensus of 536 million euros.

Sales growth accelerated in the fourth quarter from the 3.4% increase recorded in the previous three months, leading to an overall rise of 7.2% at current exchange rates for the second half of the year.

Cucinelli reiterated it expects to grow sales 15% this year and to double turnover in the 2019-2028 period.

($1 = 0.8222 euros)

(Reporting by Claudia Cristoferi; editing by Agnieszka Flak)