Aeffe records revenue and EBITDA slump in Q1
Italian fashion group Aeffe was back in the black in 2024, but has started fiscal 2025 with a revenue downturn and worsening losses. Aeffe, which owns Moschino, Alberta Ferretti, and footwear brand Pollini, was affected by the luxury market's slowdown, and recorded a Q1 revenue of €61.7 million, down by 23.2% at current exchange rates and by 23.3% at constant rates. Most notably, it posted a net loss of €10.1 million, as opposed to one of €5.6 million in Q1 2024.
Aeffe, which is based in San Giovanni in Marignano in central Italy, also recorded a negative EBIT (minus €8.4 million) in Q1, compared to minus €1.7 million a year earlier. EBITDA too dropped into negative territory, to minus €1.5 million, compared to the €6.3 million profit posted in Q1 2024.
Aeffe's executive president Massimo Ferretti has ascribed these results to 'a generalised slowdown in global consumption,' which affected both 'direct retail and the wholesale channel.' Ferretti said he remains confident for the rest of the year's performance, assuring that the group is continuing to invest in its brands. Q1 2025 sales in the wholesale channel, which accounted for nearly 70% of the group's revenue, fell by 22.6%, while sales in the direct retail channel lost 19.4%.
In Q1, Moschino's revenue decreased by 27.8% at constant exchange rates, down to €43.3 million. In 2021, Aeffe took complete control of its leading label, and appointed Adrian Appiolaza as creative director in January 2024, while Moschino's beauty business was ceded to Euroitalia in September 2024 for €98 million.
Alberta Ferretti's revenue fell by 17.4% to €4.6 million, and revenue for the group's young line, Philosophy, dropped by 6% to €5 million. It was the first time that Philosophy generated higher revenue than Alberta Ferretti, which is undergoing an organisational overhaul. Alberta Ferretti will merge with Philosophy from next winter, and is now designed by Lorenzo Serafini, who has succeeded the label's eponymous founder as creative director. Pollini's sales dropped by 10% at constant exchange rates, down to €8 million.
In Q1 2025, Aeffe lost ground in all its commercial regions. In Italy, the group's main market, accounting for 43% of total revenue, sales decreased by 24.7%, down to €26.5 million, with the wholesale channel losing 26% and retail sales dropping by 12%.
In the rest of Europe, Aeffe's second-largest market, worth approximately one third of total revenue, sales declined by 21.1%, down to €18.9 million. Revenue in Asia dropped from €17 million in Q1 2024 to €12.9 million in 2025, down 24.2%, and in the US revenue fell by 17.7%, to €3.2 million.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Euronews
4 hours ago
- Euronews
Europe's right caught in wake of broken Trump-Musk bromance
The very public fallout between Donald Trump and tech billionaire Elon Musk, once among the US president's closest advisors, has rippled across the Atlantic, drawing fascination as well as anxiety from Europe's right-wing and far-right political circles. The collapse of the Trump-Musk alliance, marked by bitter exchanges over government contracts and personal insults, has left many on Europe's right politically adrift. Online, the moment has already spawned memes comparing European parties to children caught in a bitter divorce. Yet beyond the humour, the European right woke up in shock. For many of its leaders, Trump had served as proof that a nationalist 'wave' was not only possible but already underway. Musk, meanwhile, became an unlikely champion of their causes, lending legitimacy, visibility, and even a platform to far-right movements like Germany's AfD and Italy's Lega, with particularly close ties to Italian Prime Minister Giorgia Meloni. So far, there has been no official comment from Europe's right-wing leaders on the Trump-Musk rift. That silence is striking as these politicians are usually quick to react to global events, especially those involving figures they admire. Their hesitation suggests a deeper unease: being forced to choose sides could present a strategic dilemma that reshapes the future of Europe's right-wing landscape. Germany's far-right Alternative für Deutschland (AfD) faces a delicate balancing act. While the party has long admired Trump's nationalist politics – often calling for a 'Germany First' approach – it has also benefited significantly from Musk's support. Musk has repeatedly praised the AfD, once stating, 'Only the AfD can save Germany.' Ahead of Germany's federal elections, he even participated in livestreamed discussions with AfD co-leader Alice Weidel and used his platform X (formerly Twitter) to amplify the party's messaging. Meanwhile, German Chancellor Friedrich Merz, who was present at the White House during part of the unfolding dispute between the pair, hasn't commented, though his CDU party competes directly with the AfD and is likely watching developments closely. Italy's Lega and its leader Matteo Salvini face a similar dilemma but from a slightly different angle. Salvini has long styled himself as Italy's most pro-Trump figure, even more so than his rival Giorgia Meloni. Yet Musk has also courted Lega. In April, he addressed the party's national congress in Florence via video link as a star guest, echoing his involvement with the AfD. For Meloni, the situation is even more complex as she has cultivated relationships with both men. As the first Western European leader to meet Trump following the announcement of US tariffs on EU goods, she positioned herself as a diplomatic bridge between Washington and Brussels. At the same time, she has maintained a pragmatic, deal-oriented relationship with Musk, particularly regarding potential SpaceX contracts for Italian defence communications. Despite their ties to Musk and shared ideological overlaps, both Meloni and Salvini are likely to side with Trump in the event of a political schism since Trump remains a key political ally and, unlike Musk, is an elected leader. In other parts of Europe, the choice appears clearer. Parties such as Hungary's Fidesz under Viktor Orbán and France's National Rally, now led by Jordan Bardella, have consistently aligned themselves with Trump's nationalist agenda. Orbán, one of Trump's closest allies in Europe, frequently echoes his anti-immigration rhetoric and strongman leadership style. Bardella has praised Trump's patriotism and nationalist policies, while showing little public admiration for Musk. Elsewhere, parties like Poland's Law and Justice (PiS), Austria's Freedom Party (FPÖ), and Spain's Vox have seen Musk act more as a sympathetic amplifier of their messages rather than as a political partner. While Musk has given visibility to far-right narratives on his social media platform, he lacks the political authority or ideological consistency that many of these parties find in Trump. As the Trump-Musk feud continues to unfold, Europe's right-wing movements may be forced into a reckoning. Do they align with a political icon who has shaped modern populism or with a tech mogul whose influence lies in platforms, not policies? For now, many are watching and waiting. But if tensions escalate further, silence may no longer be an option. A new YouGov study shows that the favourability towards Israel in Britain, France, Germany, Denmark, Spain and Italy is at or near its lowest level in Western Europe since 2016. The research interviewed 8,625 people from these six key Western European countries between November 2016 and May 2025. Net favourability towards Israel in Germany (-44), France (-48), and Denmark (-54) has reached its lowest level since YouGov started tracking in 2016, while public sentiment in Italy (-52) and Spain (-55) are likewise at their lowest or joint lowest levels, despite a shorter timespan from 2021 onwards. A number of Europeans across these six countries think Israel was right to send troops into Gaza, but believe they have since gone too far and caused too many civilian casualties. This opinion won the most support in Germany at 40%, followed by Denmark at 39% and Britain at 38%. Israel's military campaign has killed more than 54,000 Palestinians, mostly women and children, according to Gaza's Health Ministry. Food supplies have also been blocked, with the Integrated Food Security Phase Classification (IPC)'s latest report stating half a million people face starvation. Between 7% and 18% of European respondents say they sympathise most with the Israeli side, the lowest figure in most countries since the Hamas attacks. By contrast, between 18% and 33% say they sympathise more with the Palestinian side. Only in Germany are the figures for each side similar, with 17% for Israel and 18% for Palestine. Despite permanent peace in the Middle East seeming distant to Europeans, French people are the most optimistic that both sides will set aside their differences within the next 10 years. Meanwhile, Danes are the least optimistic at 15%. Across all countries, the opinion that peace is realistic has fallen in popularity by between four and ten percentage points.
Fashion Network
a day ago
- Fashion Network
Bottega Veneta celebrates 50 years of its woven leather signature with a poetic campaign
Italian luxury brand Bottega Veneta is marking the 50th anniversary of intrecciato (meaning 'woven' in Italian), the leather technique that has become its signature. To celebrate five decades of artisanal excellence, the Italian label, part of the Kering luxury group, has launched a striking new campaign titled 'Craft is Our Language.' The visuals feature a series of moving hands—intertwined and interlaced like leather strips—alongside notable personalities. The story of intrecciato dates back to the 1970s when Renzo Zengiaro, the craftsman behind Bottega Veneta, introduced the weaving technique. He co-founded the house in Vicenza in 1966 with Michele Taddei. Their technique and design quickly became a reference in luxury leather goods. At the time, leather in the Veneto region—better known for ready-to-wear—was especially thin, suitable for weaving and commonly used in gloves and shoes. Zengiaro's idea was to use wider leather strips to create bags using his very own developed method. However, success came slowly. Years later, Zengiaro recalled that buyers in Paris rejected his woven leather bags, claiming they looked too much like summer straw bags. The brand halted production, kept only a few samples, and offered them to the Japanese and American markets. Customers in those regions quickly drove up demand, laying the foundation for what ultimately became Bottega Veneta's hallmark. Since then, intrecciato has been reinterpreted in numerous ways by the brand's various creative directors—across apparel, materials, and even oversized weaves. The technique has been used to craft highly coveted accessories, often widely copied. It quickly became a staple in all product categories, from jewelry and furniture to ready-to-wear. Yet the brand's new campaign barely shows its bags or products. Instead, it highlights creativity, craftsmanship, and human connection. This focus explains the use of hands—literally forming a language—as illustrated in a well-known book by Italian designer Bruno Munari. Bottega Veneta honors him through this project. The anniversary campaign 'views intrecciato not just as a technique, but as a metaphor. The interwoven leather strips, which over time became the house's hallmark, represent the bond that links individuals. It symbolizes sharing, transmission, and the collective spirit that drives Bottega Veneta's philosophy,' the house explained in a statement. Shot by photographer Jack Davison and choreographed by Lenio Kaklea, 'Craft is Our Language' is built around a series of portraits paired with images of hands. The selected figures come from the worlds of art, film, fashion, literature, music, and sport. The lineup starts with actress Lauren Hutton, who carried a Bottega Veneta woven clutch in Paul Schrader's 1980 film American Gigolo and walked the runway in 2016 for the brand's 50th anniversary wearing a modernized version of the same piece. Others featured in the campaign include designer Edward Buchanan—who served as Bottega Veneta's first ready-to-wear creative director from 1995 to 2000—Italian filmmaker Dario Argento, actress Julianne Moore, poet and sculptor Barbara Chase-Riboud, singer-songwriter Neneh Cherry, and novelist Zadie Smith.
Fashion Network
a day ago
- Fashion Network
Zara expands globally with new flagship in Los Angeles and store reopening in Turin
Inditex 's flagship brand continues to grow its international retail network. Following a recent opening in Brea, California, Zara has strengthened its presence in the United States with a new flagship store in West Los Angeles. The brand also unveiled a fully renovated location in downtown Turin. Located in The Grove outdoor mall, the store has a total area of 2,400 square meters distributed on two levels, and its design has been conceived by Zara's architecture studio, combining contemporary details that evoke the Californian spirit with the warm and welcoming style of the Spanish fashion chain. The boutique showcases a large white façade and an interior defined by porches, wooden flooring, and gray marble. Vintage-inspired furniture—such as chairs, lamps, sofas, and even works of art and sculptures—adds character to the space. The first floor houses Zara's women's collections, including lingerie, footwear, and accessories. The second level focuses exclusively on menswear, featuring a wide range of accessories, shoes, and the brand's Athleticz sports capsule. As part of the Galician chain's commitment to innovation, the store incorporates efficient technological tools aimed at improving the shopping experience, such as an online order collection silo with a capacity of 650 packages, self-checkout counters or automated points for online shopping returns. Additionally, as part of its commitment to sustainability, the store offers services such as a cardboard recycling point and a clothing donation container. With this opening, the brand reaffirms its position in the U.S. market, where it first landed in 1989 with the opening of its first store on Lexington Avenue in New York. Today, Zara operates more than a hundred stores in the country and plans to continue expanding with new outlets, including the opening of a boutique in the South Coast Plaza shopping center in the Californian city of Costa Mesa, scheduled for next fall. Consolidation in the Italian market Zara's renovated store in Turin stands at 360 Via Roma, just a few meters from the Zara Man location that opened last year on the same prominent shopping street in the heart of the city. Reopened on May 30 after a full transformation, the boutique spans 1,124 square meters across two floors and offers the brand's women's and children's collections. The same Zara design studio behind the Californian flagship conceived the Turin store's interior. The space reflects a warm, residential aesthetic, featuring high-quality materials and architectural elements inspired by classic design. Contemporary details—such as steel finishes and tile-adorned furnishings—add a modern contrast. The store integrates several customer services, including self-checkout counters and a dedicated return desk. It also incorporates digital tools that enable shoppers to check in-store stock in real time and track online orders via the Zara app or website. . The Galician chain celebrates its 50th anniversary this year and operated 1,759 points of sale by the end of 2024, including self-managed stores and franchises. The brand reports its financial results jointly with Zara Home and recorded a turnover of 27.778 billion euros in the last fiscal year, marking a 6.6% increase compared to 2023. Zara forms part of the Inditex group's brand portfolio, which Marta Ortega currently chairs. The group also includes Massimo Dutti, Bershka, Stradivarius, Pull&Bear, Oysho, Zara Home and Lefties. The Galician conglomerate posted a 7.5% increase in the same period, reaching total sales of 38.632 billion euros.
