Latest news with #Aeffe
Miami Herald
14-05-2025
- Business
- Miami Herald
Luxury fashion group reeling after disastrous quarter
The luxury market faces a moment of reckoning. After years of booming sales and surging global demand, the industry is showing signs of fatigue - especially among labels once seen as unstoppable. Related: Top luxury fashion brands just made a quiet change Consumer appetite for high-end goods is cooling across nearly every region, and even legacy names aren't immune. Don't miss the move: Subscribe to TheStreet's free daily newsletter One longtime Italian fashion powerhouse just reported a brutal quarter that may signal deeper trouble ahead. Aeffe SpA ( (AEFSF) ) - the parent company of Moschino, Alberta Ferretti, Philosophy di Lorenzo Serafini, and Pollini - posted a 23.2% revenue decline in Q1 2025, falling to €61.7 million (about $68.6 million). Its ready-to-wear division dropped nearly 30% to €38.7 million ($43 million), and footwear and leather goods fell 18% to €27.1 million ($30.1 million). Net losses rose to €10.1 million ($11.2 million), nearly double the loss from the same time last year. EBITDA also flipped from a €6.3 million gain ($7 million) to a €1.5 million loss ($1.7 million). Related: Major jewelry player pulls the plug on distressed brand The downturn hit nearly every market. Italy saw sales plunge 25%, Europe dropped 21%, Asia and other regions were down 24%, and U.S. revenue slid 18%. Wholesale, which made up 70% of the company's turnover, fell 23%, while retail sales declined 19%. Executive chairman Massimo Ferretti blamed "the general global slowdown in consumption," which affected both wholesale and retail channels. While he said the situation "has not caught us unprepared," the financials tell a story of mounting pressure. To chart a path forward, Aeffe will focus on leadership shifts and strategic cost control. Adrian Appiolaza stepped into the role of creative director at Moschino in early 2024 after the sudden passing of Davide Renne. Not long after, Alberta Ferretti announced her exit from the brand she built over four decades, with veteran collaborator Lorenzo Serafini taking the reins. The company also made a bold financial move last year, selling off Moschino's cosmetics and fragrance division for €98 million ($109 million). That sale delivered a short-term boost, but with those gains behind it, Aeffe now faces the harder work of rebuilding its core fashion business. Ferretti is optimistic: "We look with positivity and renewed confidence to a recovery of the retail market in the upcoming months." Still, optimism alone won't be enough. For investors and customers alike, the real question is whether that confidence can translate into a turnaround - or Aeffe's struggles are just getting started. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Fashion Network
13-05-2025
- Business
- Fashion Network
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.
Fashion Network
13-05-2025
- Business
- Fashion Network
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.
Fashion Network
13-05-2025
- Business
- Fashion Network
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.
Fashion Network
12-05-2025
- Business
- Fashion Network
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.
