The Italian fashion group Aeffe Spa suffered losses in sales in 2023.
The parent company of brands such as Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini reported a nine percent decline in sales compared to last year, according to its financial report published on Friday. Sales therefore amounted to 319 million euros.
Aeffe Spa CEO Massimo Ferretti said the decline in sales was mainly due to the weakening of markets in Europe and the US during the year. The Italian group therefore already expected that the financial year would end with a decline in sales. According to Ferretti, the group will, among other things, strengthen relationships with European and US wholesalers in 2024.
Ferretti also briefly mentioned that the group is still awaiting the appointment of a new creative director at Moschino. Well-known designer Jeremy Scott left the brand at the beginning of 2023 and was replaced by Davide Renne in November. However, Renne died suddenly a few days after taking office. The successor for Renne does not seem to have been found yet.
This translated article previously appeared on FashionUnited.nl