Aeffe announces strategic review for Moschino after sales loss

Business

Moschino store in Mykonos. Credits: Moschino

Aeffe Spa, the Italian parent company of brands including Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini, has announced preliminary sales figures for the 2024 financial year. The fashion group reported a 21.3 percent decline in consolidated sales, totaling 251 million euros compared to 319 million euros in 2023.

In Italy, turnover was 106.4 million euros, reflecting a decrease of 20.6 percent. This represents 42.4 percent of the total turnover. In Europe (excluding Italy), turnover decreased to 76.5 million euros, a decline of 22.4 percent.

Massimo Ferretti, executive chairman of Aeffe Spa, says that despite the drop in sales, he is looking forward to recovery: "The past year has brought great challenges in the international markets, but we have taken proactive steps to overcome this phase.

"The repositioning of Moschino under the creative direction of Adrian Appiolaza and the integration of the Philosophy line within Alberta Ferretti under Lorenzo Serafini have been strategic decisions to respond to the needs of the current fashion world. We are optimistic about the coming year and hope for a recovery in demand for fashion and luxury from the second half of 2025."

Aeffe ends collaboration with Moschino manager

In addition to the turnover figures for the 2024 financial year, Aeffe shared in the report that it was to launch a strategic review for the Moschino brand. The company has decided, in consultation with Goffredo Palmerini, an experienced manager within the group, to terminate the existing employment relationship with him as of March 31, 2025.

As part of the agreement, Palmerini will receive a payment of 85,000 euros gross as a general and definitive settlement, to be paid on May 10, 2025. He also retains the right to use his official residence until December 31, 2025.

Palmerini is an experienced director within the Aeffe Group. In March 2023, he was appointed director at Moschino, with responsibility for brand strategy and operational continuity. Aeffe emphasises that Palmerini is not entitled to any bonuses or shares in Aeffe. Palmerini also has no shares in the Aeffe Group.

This article originally appeared on FashionUnited.NL. It was translated to English using AI and edited by Rachel Douglass.

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