Aeffe streamlines corporate structure, parts ways with Moschino's managing director
The board of directors of Aeffe S.p.A., the Italian luxury group operating in the ready-to-wear, footwear and leather goods sectors with the labels Alberta Ferretti, Philosophy by Lorenzo Serafini, Moschino and Pollini, has announced today that the proposed merger by incorporation into Aeffe of its wholly-owned subsidiaries Moschino and Aeffe Retail has been approved.
Both operations, as stated in a press release, are part of the group’s ongoing rationalisation and reorganisation, which began in 2022 with the merger of its subsidiary Velmar. There will be no impact on the composition of Aeffe’s shareholding.
Aeffe also indicated that, following an exchange of views about the strategic vision for the Moschino brand, managing director Stefano Secchi and Aeffe’s subsidiary Moschino have agreed to end their current employment relationship by mutual consent, effective from March 31, 2023.
“I would like to thank Massimo Ferretti for the opportunity I had to lead this wonderful label over the last four years,” said Secchi. “Despite the pandemic and the adverse economic situation, we have managed to execute major strategic projects for the label,” he added.
A few days ago, in a brief statement, the company announced that Jeremy Scott was leaving Moschino, after almost 10 years as the label's creative director. No details were given as to the reasons for this decision, nor were any suggestions made as to a possible successor.
The Aeffe group closed 2022 with a revenue of €352 million, up from the €324.6 million generated in 2021 (an 8.4% increase at current exchange rates, and a 7.7% increase at constant exchange rates). The group posted a loss of €9 million, down from its 2021 profit of €12 million, which included non-recurring tax benefits for €9.5 million.
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