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Luxury group Aeffe annual revenue up 21 percent, strong growth in US

By Huw Hughes

28 Jan 2022

Business

Image: Moschino, Facebook

Aeffe has reported a 20.6 percent increase in revenue in fiscal 2021 as the Italian luxury group continued to recover from the pandemic.

Its annual revenue came in at 324.6 million euros compared to 269.1 million euros in 2020, when it was hit hard by international lockdowns.

Revenue was still down 7.6 percent, however, compared to pre-Covid 2019 levels.

US market shines

The group, whose portfolio includes brands Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini, saw a particularly strong acceleration in sales in the US (up 41.4 percent), Greater China (up 23 percent), and Continental Europe (up 24.5 percent).

Sales in the group’s home market of Italy increased by 15 percent to 132.1 million euros.

Breaking it down by division, prêt-à-porter revenue was up 11.5 percent to 220.2 million euros, while footwear and leather goods revenue increased 30.2 percent to 139.9 million euros.

“We are satisfied with the double-digit growth in turnover and the positive contribution of all our brands, both in the wholesale and retail channels, also driven by the consolidation of our online presence,” said group chair Massimo Ferretti in a statement.

He said the group expects “encouraging” trading for the coming months “as outlined by the significant progress especially in Europe, US and Greater China, where in the next six months we will develop a new direct distribution project for Moschino”.