At a meeting of the Communist party earlier this month, President Xi Jinping stressed the importance of "common prosperity" and said Beijing aims to "rationally adjust excessively high" incomes. This has led some analysts to predict a possible backlash against luxury goods, of which Chinese shoppers are the biggest buyer.
"I honestly believe it (China) will be the market for the next 100 years," Cucinelli said, adding he was not worried at all by the Chinese leader's words and instead shared the belief that incomes needed to be fair.
Cucinelli, known for its $1,000-plus cashmere sweaters, makes around 15% of its sales in China, compared to more than 45% for some of its luxury rivals, and expects to grow that share to 20% in a year or two, he said.
(Reporting by Claudia Cristoferi and Silvia Aloisi)
