Italian fashion firm Aeffe returns to profit in July-Sept quarter

19 Nov '21

2 min read

Pic: Aeffe/ Moschino

Aeffe, an Italian fashion and luxury goods company, has posted an 8.1 per cent revenues rise to €95.0 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the revenues of €87.9 million in the corresponding period of previous fiscal. Net profit during the quarter advanced to €5.7 million (Q3 FY20: loss €1.5 million).

“We evaluate positively the performance of the first 2021 nine months, considering the good progression of our brands, on the point of view of turnover as well as on the marginality one,” Massimo Ferretti, executive chairman of Aeffe Spa, said in a press release.

The fashion retailer’s EBITDA during the reported quarter more than doubled to €15.9 million (€7.6 million), while net operating profit (EBIT) recorded a manifold jump to €9.8 million (€0.3 million).

By brand, sales from Moschino during Q3 improved by 3.6 per cent to €71.5 million, and Pollini’s sales surged by 47.8 per cent to €10.3 million. Furthermore, Alberta Ferretti’s sales climbed 10.0 per cent to €6.3 million, whereas Philosophy brand’s business dropped with sales of €4.9 million, down by 2.8 per cent over Q3 FY20.

Regionally, Italy remained the largest market for Aeffe with sales of €43.9 million, up 2.5 per cent, while Europe (excluding Italy) recorded a 20.1 per cent sales growth to €29.5 million. Asia and rest of the world achieved sales of €15.3 million, which was 5.7 per cent up over the third quarter of 2020.

“Looking at the future, good signals come from the spring summer 2022 sales campaign, which closed with a 22 per cent increase compared to counter-season last year. Furthermore, the whole control of Moschino and the internalisation of Moschino Donna licenses starting from the autumn-winter 2023 season will allow to implement strategies able to express to the best the brand’s potential,” Ferretti concluded.

Fibre2Fashion News Desk (JL)

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