Italian fashion house Valentino on Saturday posted a 23 per cent jump in turnover for the first five months of the year compared to the year-ago period and said it expects turnover to climb five per cent for the full year.

Valentino chief executive officer, Michele Norsa, told a news conference the company plans to launch a new line of beachwear and underwear for spring/summer 2003, with sales seen as reaching 40 million euros in the first three years.