By  on June 28, 2007

MILAN — IT Holding SpA executives on Wednesday raised the company's financial targets in a new business plan and touted the future viability of the Ferré brand despite the founding designer's death 10 days ago.

IT Holding will see its sales drop nearly 8 percent this year to 640 million euros ($864 million at current exchange) due to the loss of its lucrative contract for Dolce & Gabbana's diffusion line D&G. But company executives stressed revenue growth will resume in the coming years as they focus on accessories, open more stores and penetrate emerging markets like Eastern Europe and the Middle East.

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