Aeffe Brings Love Moschino In-house
MILAN — After taking full control of the Moschino brand, Aeffe is bringing the production and distribution of the Love Moschino line in-house.
Aeffe, which acquired the 30 percent stake in Moschino it did not own from Sinv Holding SpA, Sinv Real Estate SpA and Sinv Lab Srl last July, paying more than 66.5 million euros, has decided to take over in advance the license of Moschino’s contemporary line that was previously operated by Sinv. The value of the operation was set at 3.64 million euros, which Aeffe will pay to Sinv by the end of November.
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“This operation of important strategic value offers us the opportunity to raise the Moschino brand positioning and to reshape its overall offer in order to accelerate its growth,” said Aeffe executive chairman Massimo Ferretti. “The integration within the group of all the women’s apparel collections puts us in the best conditions to manage the brand with a 360-degree vision, with positive effects on the overall organization across its various aspects: product quality, distribution, market penetration and communication, with a focus on exploiting group’s synergies and opportunities offered by the market.”
In 2020, the Moschino brand posted revenues of 215.4 million euros, while on average, over the last five years, it registered revenues of 229.4 million euros. Royalty revenues amounted to 63.2 million euros, with shareholders’ equity of 109 million euros at the end of the year. Among the licenses, Moschino’s fragrances are manufactured by Euroitalia, which in March unveiled a campaign fronted by Stella Maxwell and photographed by Scott himself for the Moschino Toy 2 Bubble Gum scent, which is a flanker of the Toy 2 fragrance that was released in 2018.
Along with Moschino, Aeffe, that is publicly listed on the STAR segment of the Italian Bourse, also operates the Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini brands.
As reported, in the first half of 2021, Aeffe reported a return to profitability with net earnings of 17.4 million euros compared with a net loss of 12.5 million euros in the first half of 2020. Double-digit growth in all its markets boosted sales, which rose 30.4 percent to 155 million euros compared with 118.9 million euros in the same period last year. The ready-to-wear division contributed more than 67 percent of sales.
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