March 15 (Bloomberg) -- Jil Sander AG expects a profit in 2011, Chief Executive Officer Alessandro Cremonesi said in an interview with the Financial Times Deutschland.
After posting a loss of just under 5 million euros ($7 million) in 2010, the Hamburg-based company expects to earn an amount in the high single-digit million-euro range, which would be its first profit since 2001, Cremonesi told the newspaper.
Its new, less expensive Navy brand is performing well, contributing 15 percent to overall revenue in its first year, he said in the interview.
To contact the reporter on this story: Allison Connolly in Frankfurt at firstname.lastname@example.org.
To contact the editor responsible for this story: Phil Serafino at email@example.com.