SLIGHT SLOWDOWN IN REVENUES (-9.0%) CONFIRMED RETAIL CHANNEL (+9.0%) CONTINUES GROWING
San Giovanni in Marignano, January 25, 2024. The Board of Directors of Aeffe Spa - luxury products company quoted on the Euronext Star Segment of Euronext Milan Market of Borsa Italiana, operating both in the prêt-à-porter sector and in the footwear and leatherwear sector with extremely well-known brands, including Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini - has approved the Group's preliminary sales figures for the Full Year 2023.
• CONSOLIDATED REVENUES equal to 319 million euros, compared to 352 million in 2022, with a decrease of 9.0% at constant exchange rates (-9.5% at current exchange rates).
Massimo Ferretti, Executive Chairman of Aeffe Spa, commented: "As expected, we are closing 2023 with a slight decrease in our turnover mainly due to a slowdown in the European and American markets. However, we are satisfied with the performance of the retail channel, linked to the distribution reorganization in China, where during 2022 we took direct control of the Moschino stores. As a Group we have great potential for growth in the retail world, just as we hope for a progressive restart of the wholesale channel, especially in Europe and the United States where we are strengthening our relationships with the highest profile commercial partners while awaiting the identification of the new creative director of the Moschino brand. Aeffe Group continues to firmly believe in the values of creativity, quality and service towards its customers, elements which I believe will allow us to rationally address the instabilities of international markets, mainly due to the very complicated geo-political situation that characterizes the current moment."
Press release:
https://www.emarketstorage.it/sites/default/files/comunicati/2024-01/20240125_141561.pdf
San Giovanni in Marignano, January 25, 2024. The Board of Directors of Aeffe Spa - luxury products company quoted on the Euronext Star Segment of Euronext Milan Market of Borsa Italiana, operating both in the prêt-à-porter sector and in the footwear and leatherwear sector with extremely well-known brands, including Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini - has approved the Group's preliminary sales figures for the Full Year 2023.
• CONSOLIDATED REVENUES equal to 319 million euros, compared to 352 million in 2022, with a decrease of 9.0% at constant exchange rates (-9.5% at current exchange rates).
Massimo Ferretti, Executive Chairman of Aeffe Spa, commented: "As expected, we are closing 2023 with a slight decrease in our turnover mainly due to a slowdown in the European and American markets. However, we are satisfied with the performance of the retail channel, linked to the distribution reorganization in China, where during 2022 we took direct control of the Moschino stores. As a Group we have great potential for growth in the retail world, just as we hope for a progressive restart of the wholesale channel, especially in Europe and the United States where we are strengthening our relationships with the highest profile commercial partners while awaiting the identification of the new creative director of the Moschino brand. Aeffe Group continues to firmly believe in the values of creativity, quality and service towards its customers, elements which I believe will allow us to rationally address the instabilities of international markets, mainly due to the very complicated geo-political situation that characterizes the current moment."
Press release:
https://www.emarketstorage.it/sites/default/files/comunicati/2024-01/20240125_141561.pdf
