Italy-based Valentino Fashion Group, which expects 10-12% sales growth this year, said today (5 December) that buying out the Hugo Boss label's minority shareholders is not a priority.

Valentino's chairman Antonio Favrin said during a meeting that the company wanted to develop its present brands rather than performing "extraordinary operations".

However, he did not rule out the possibility of such an action - long expected by the market - in the next few years.

Favrin also said that the company's revenues and profit look set to experience higher growth in 2006, considering current order levels.