The Italian fashion and luxury group recently announced a significant drop in sales for 2023. Executive Chairman Massimo Ferretti cites a slowdown in the European and American markets. Despite these challenges, the positive performance of the retail channel and the anticipated renewal of the licensing agreement with Safilo Group offer encouraging prospects for the future.
The Board of Directors of Aeffe Spa approved preliminary sales figures for 2023 on Thursday, January 25. The Italian group, a major player in the fashion sector, closed the year with consolidated revenues of 319 million euros.
This figure marks a significant decline of 9.0% at constant exchange rates and 9.5% at current exchange rates, compared with 352 million euros in 2022.
“As expected, we are closing 2023 with a slight decline in sales, mainly due to a slowdown in the European and US markets,” said Massimo Ferretti, Aeffe’s Executive Chairman.
The wholesale channel, accounting for 67.1% of total sales, recorded a 13.9% decline, while the retail channel, contributing 29.8% of group sales, was up 9% on 2022. Royalty income, meanwhile, fell by 33.7%, following the termination of certain licenses for the Moschino brand.
Ready-to-wear revenues amounted to 212.4 million euros, down 7.6% at constant exchange rates and 8.4% at current exchange rates. The footwear and leather goods division posted revenues of 142.1 million euros, down 13.1% at both constant and current exchange rates.
Chinese market performance
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Featured photo : ©Aeffe Group
