Aeffe sales edge up in 2019

Aeffe Group has reported a slight increase in revenues in 2019.

The Italian group, which owns brands such as Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino, Pollini, Jeremy Scott and Cédric Charlier, reported sales of 351.4 million euros in 2019, up 1.4 percent from 346.6 million euros in 2018.

Revenues at the ready-to-wear division of the group were down 1.3 percent to 262.2 million euros, while sales at its footwear and leather goods division rose 8.3 percent to 128.2 million euros.

In terms of markets, sales in Italy decreased by 4.5 percent to 160.9 million euros, with its home market accounting for 45.8 percent of consolidated sales.

Revenues in Europe, which accounted for 24.7 percent of sales, increased by 8.1 percent, driven by good performance in UK, Germany and Eastern Europe.

In Asia and in the Rest of the World, revenues totalled 86 million euros - an increase of 7.5 percent driven by a good trend in China and Korea, which saw a 7.2 percent and 14.6 percent growth, respectively. Revenues in the market accounted for 24.5 percent of total sales.

Revenues in America, accounting for 5 percent of sales, decreased 4.5 percent.

By distribution channel, wholesale revenues declined by 1.8 percent, contributing to 69.4 per cent of sales, mainly due to the downturn registered by the AW19 collections sales campaign. Retail sales increased by 7.5 percent.

Massimo Ferretti, executive chairman of Aeffe Spa, said in a statement: “We positively evaluate the 2019 revenues trend, considering the macroeconomic uncertainty and the rationalization actions implemented to the Chinese multi-brand network to gain efficiency. The good performance of retail and online channels, along with the progression at international level and in the accessories segment, reflect the effectiveness of the investments made to further strengthen the strategic positioning of our brands.”

Photo credit: Aeffe website