The CEO of Italian fashion brand Valentino has indicated that the company has continued to recover from the impact of the global financial crisis.

Speaking to the news agency Reuters, Stefano Sassi said that he expects sales to climb by at least 15%, which is ahead of previous forecasts of 10%. He said demand was recovering in the US and Europe.

"Revenues will be up double digit, how much exactly we will see, but 15% (is) likely," he said.

In June, Sassi dismissed rumours that the private equity-owned fashion label was for sale, saying that the company's owners, Permira and the Marzotto family, were focused on building up the company before any possible sell-off.