Aeffe sells Moschino cosmetics brand to Euroitalia for 98 million euros

Luxury group Aeffe Spa has announced the sale of part of the Moschino brand to Euroitalia for 98 million euros, expanding on an already long-running collaboration between the two conglomerates.

The sale is specifically in relation to all products under the product class 3 of the Nice Classification, which includes mainly cosmetics, perfumes, scented candles and textile perfumes.

Aeffe announced the move in a release, in which it stated that Euroitalia had already paid a portion of the consideration amounting to 39.6 million euros, with the remaining portion to be paid on November 29.

The sale also falls alongside the execution of a framework agreement between Aeffe and Euroitalia, completing the transfer of the brand portfolio and thus bringing to an end a licensing agreement between the two as a result of the operation.

Aeffe noted that the transaction would provide an injection of liquidity that will be used to significantly decrease the group’s net financial position, pushing forward a positive impact on its income statement while bolstering the expansion process of its brands.

Speaking on the news, president of Aeffe Group, Massimo Ferretti said: "Over the years, Euroitalia has proved to be an excellent partner with whom we have built a very successful path, launching iconic products that have become benchmarks in the fragrance market.

"This transaction marks a further step in our collaboration, which I believe will bring great benefits to both parties. I am firmly convinced that Euroitalia, with its range of products, will play a leading role in the process of further evolution and growth of the Moschino brand."