Aeffe, with a portfolio of brands including Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini, reported revenues of 138.6 million euros, down 14.6 percent at constant exchange and 14.9 percent at current exchange in the first six month period.

EBITDA for the period declined to 0.4 million euros and group net loss widened to 20.4 million euros.

Commenting on the financial results, Massimo Ferretti, executive chairman of Aeffe Spa, said: “The unsatisfactory results of the first half of the year are the reflection of an extremely complex market situation. The slowdown in consumption in key countries for us, such as Italy and the United States, has significantly impacted our group performance.”

Aeffe records revenue decrease across markets

The company said that revenues of the prêt-à-porter division amounted to 94 million euros, a decrease of 12.5 percent at current exchange rates and 12.9 percent at constant exchange.

Revenues of the footwear and leather goods division amounted to 56.5 million euros, a decrease by 25 percent compared to the same period of 2023.

Sales in Italy decreased by 15.5 percent at 57.6 million euros with the wholesale channel recording a contraction of 21 percent and the retail channel by 7 percent.

Sales in Europe decreased by 16.2 percent at 42.1 million euros. In Asia and in the rest of the world, the group achieved revenues of 31.4 million euros, down by 7.4 percent compared to 2023.

At constant exchange rates, sales in America decreased by 25.6 percent.

The revenues of the wholesale channel recorded a decrease by 17 percent at constant exchange rates, while revenues of the retail channel decreased by 10 percent at constant exchange rates. The revenues for royalties decreased by 6.2 percent compared to the same period of 2023.