Already in January, the Italian fashion group Affe Spa announced in advance that it had to accept a significant decline in sales last year. The parent company of Labels such as Moschino, Alberta Ferretti and Pollini was able to return to the profit zone thanks to the sale of Mosmo’s cosmetics brand rights from Moschino to Euroitalia. This emerges from the full annual report that the company published on Friday.
Aeffe returns to the profit zone by selling Moschino Beauty
Due to the transaction proceeds, which, according to the group, amounted to 98 million euros, the result rose to interest, taxes and depreciation (EBITDA), which was 5.8 million euros in 2023, to 84.7 million euros. The bottom line was a net profit of 19.3 million euros due to the shareholders, after a corresponding loss of 32.1 million euros had been booked in the previous year.
As early as January, Aeffe had announced that the annual turnover had decreased by 21.2 percent to EUR 250.8 million compared to 2023. The decisive factor was massive losses in all margins and product categories.
CEO Ferretti hopes to stabilize the geopolitical situation
Executive Chairman Massimo Ferretti was optimistic about the latest structural reforms. “While we are waiting for a general recreation of the international markets with great confidence, our group works with a clear and convincingly defined strategic vision of harvesting the advantages of the group’s reorganization process and the repositioning of our brands. I am convinced that you will be very satisfied with us, ”he said in a statement.
Ferretti also referred to fresh optimism after the recent fashion shows. The new collections of the Alberta Ferretti, Moschino and Pollini brands were recorded with “great enthusiasm”, he emphasized. The CEO also confirmed the hope that a phase of stability and growth would follow the “current geopolitical uncertainties”. This would give fashion and luxury goods industry an “important thrust”, emphasized Ferretti.