Aeffe closes 2014 on a stable note

By

Dominique Muret

Published
Feb 13, 2015

Aeffe has confirmed the positive trend that began at the end of 2013. The Italian fashion group has posted 251.5 million euros in revenue for 2014, in line with the 251.1 million a year earlier, it has announced in a preliminary press release. Active in the ready-to-wear sector, with labels Alberta Ferretti and Moschino and shoewear brand Pollini, the company did indeed record a 0.2% last year.

The reorganisation of distribution in Japan notably weighed heavy on the company's accounts. For this market, which represents 2.6% of sales, Aeffe signed an exclusive franchise and distribution agreement with Woollen Co. and Mitsubishi Corporation Fashion Co., and, since the beginning of the year, the Alberta Ferretti, Philosophy, Moschino, Moschino C&C and Love Moschino collections are marketed exclusively through multibrands there.

On a comparable scope, that is, without the effects of the discontinued licenses with Jean Paul Gaultier and Cacharel and the new collaboration, under license, with Ungaro, and without the impact of the change in distribution in Japan, growth in 2014 would have been 7.6% at a constant exchange rate, pointed out Aeffe.

Last year, ready-to-wear sales (192.1 million euro) declined 2.7% at a constant exchange rate (-2.4% at a current exchange rate), while for the shoes and accessories division sales went up 19.5% (86 million).

The group is optimistic for the end of the year since orders for the spring/summer 2015 collections are up 15% compared to last year.

Revenue went up in all the geographic regions (Italy +8.7%, Europe +11.1%, Greater China +25.8%), except for Russia (-14.1%) and Japan (-67.9%) compared to 2013 because of the reorganisation in this market, which represents 2.8% of Aeffe's total sales.

Overall, 2014 once again showed a period of transition for the group, between the cessation of the licenses with Jean Paul Gaultier and Cacharel and the development of new licenses with Emanuel Ungaro and Cédric Charlier.

But the first encouraging signs can be seen, particularly for Moschino with the arrival just about a year ago of Jeremy Scott as the head of design.

The current year should also benefit from the relaunch of Philosophy, the second line from Alberta Ferretti, whose creative director will unveil his first collection this 27 February in Milan.