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On September 26<\/strong><\/b>, the Aeffe<\/strong><\/b> group announced that it was selling ownership of its beauty products, perfumes and cosmetics to Euroitalia<\/strong><\/b> for 98 million euros<\/strong><\/b> ($110 million).<\/p>\n <\/p>\n Aeffe SpA<\/strong><\/b> operates in the ready-to-wear, footwear and leather goods sectors with international brands such as Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini<\/strong><\/b>.<\/p>\n <\/p>\n Euroitalia, a global player in the production and distribution of perfumes and cosmetics<\/strong><\/b>, was already the exclusive licensee of the Moschino brand<\/strong><\/b>, manufacturing its fragrances since 1987.<\/p>\n <\/p>\n The transaction will enable the struggling Marignano-based fashion group to reduce its debt<\/strong><\/b>.<\/p>\n <\/p>\n <\/p>\n Aeffe SpA<\/strong><\/b> has sold all its Moschino products in class 3<\/strong><\/b>, according to the Nice Treaty nomenclature. This classification specifically includes cosmetics, perfumes, scented candles and perfumes for textiles<\/strong><\/b>.<\/p>\n <\/p>\n Title to this Moschino-branded product range<\/strong><\/b> was transferred to Euroitalia for 98 million euros.<\/strong><\/b><\/p>\n <\/p>\n Euroitalia is the creator of numerous Moschino fragrances, including Moschino by Moschino<\/strong><\/b>, a must-have from the 1980s, and Cheap & Chic by Moschino, whose silhouette is reminiscent of Popeye’s wife, Olive. The Aeffe Group’s business partner also designed Glamourous Fruity Floral with its heart-shaped bottle, Toy 2 with its regressive teddy bear-shaped bottle<\/strong><\/b>, Gold Fresh Couture with its all-gold spray, and the latest fragrance<\/strong><\/b>, Pearl, launched last year<\/strong><\/b>.<\/p>\n <\/p>\n Of the 98 million euro transaction, 39.6 million have already been paid<\/strong><\/b>, with the balance due on November 29<\/strong><\/b>. The sale is also accompanied by the execution of a framework agreement between Aeffe and Euroitalia<\/strong><\/b>, which completes the transfer of the brand portfolio and thus puts an end to a licensing agreement concluded between the two parties at the end of the transaction.<\/p>\n <\/p>\n <\/p>\n In a note, Aeffe SpA indicated that the transaction would inject cash which will be used to significantly reduce the group’s net financial debt<\/strong><\/b>. This should have a positive impact on its income statement while supporting the expansion process of its brands.<\/p>\n <\/p>\n Massimo Ferretti, Chairman of Aeffe<\/strong><\/b>, believes that the operation will be beneficial for both parties. He said he was \u201c firmly convinced that Euroitalia, with its product range, will play a leading role in the Moschino brand’s evolution and growth process<\/strong><\/b>\u201d.<\/p>\n <\/p>\n The operation comes at a time when the group is experiencing major difficulties<\/strong><\/b> in boosting sales and profitability.<\/strong><\/b> Aeffe SpA ended the first half of 2024<\/strong><\/b> with sales down 14.9%<\/strong><\/b> at constant exchange rates on 2023, at 138.6 million euros.<\/p>\n <\/p>\n This decision<\/strong><\/b> was rather well received by the markets<\/strong><\/b>, with Aeffe shares rebounding on the stock market, gaining 11% to 0.77 euro per share, during the day on September 26.<\/p>\n <\/p>\n <\/p>\n The announcement of the transfer of ownership of Moschino beauty products comes as Alberta Ferretti announced three days earlier that<\/strong><\/b> she was leaving her eponymous brand<\/strong><\/b>, owned by the Aeffe group, 43 years after its debut<\/strong><\/b>.<\/p>\n <\/p>\n “Forty-three years have passed since my first show.<\/em> My enthusiasm and passion for my work and for fashion are unchanged.<\/em> But I believe that at this stage of my career, <\/em>it is a right and conscious choice to open the way to a new creative chapter for the brand I founded<\/strong><\/em><\/b> and which will continue to bear my name”<\/em>, assured the 74-year-old designer and fashion creator<\/strong><\/b>, following her final show (Spring-Summer 2025).<\/p>\n <\/p>\n Alberta Ferretti founded her eponymous label in 1981<\/strong><\/b>. From the outset, the House was characterized by feminine, fluid and delicate silhouettes<\/strong><\/b>. A style that seduced pop megastar Taylor Swift for some of her stage costumes on her world tour, The Eras Tour.<\/p>\n <\/p>\n The designer is also a key figure in the development of the Aeffe Group, which she co-founded with her brother<\/strong><\/b>. Indeed, the initial core of the company was founded in 1975 and named after the famous designer. While Alberta Ferretti oversaw the design and creative side of the group, her brother Massimo was president and manager.<\/strong><\/b><\/p>\n <\/p>\n Two years after her first show in Milan in 1981, Alberta Ferretti signed a licensing agreement with Moschino<\/strong><\/b> for manufacturing and distribution. In 1985, the first Alberta Ferretti boutique opened in Milan and the new Philosophy line made its debut. In 1994, Aeffe signed a production and distribution agreement for Jean-Paul Gaultier’s ready-to-wear lines<\/strong><\/b>. An exclusive license agreement for the production and distribution of American designer Narciso Rodriguez’s ready-to-wear collections<\/strong><\/b> soon followed. Since then, the company has been owned 50% by Aeffe and 50% by Rodriguez. At the end of 1999, Aeffe acquired a 70% stake in the Moschino label<\/strong><\/b>, laying the foundations for today’s multi-brand group.<\/p>\n <\/p>\n While her successor has not yet been named<\/strong><\/b>, Alberta Ferretti has confirmed that she will retain her position as Vice-President of Aeffe.<\/strong><\/b><\/p>\n <\/p>\n <\/span><\/p>\n <\/span><\/p>\n \t\tTransfer of class 3 products<\/h2>\n
Quest for liquidity<\/h2>\n\n
Departure of Alberta Ferretti<\/h2>\n
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