Italian fashion house Aeffe posts revenue of $347.5 mn in FY23

    Date:

    Aeffe Group, an Italian luxury fashion conglomerate, has reported a revenue of €319 million (approximately $347.5 million) in fiscal 2023 (FY23), marking a 9 per cent decrease at constant exchange rates and a 9.5 per cent decrease at current exchange rates compared to the €352 million in the previous year. Despite these challenges, revenues in Asia saw an increase, particularly with the Moschino brand expanding its direct distribution efforts initiated in 2022.

    The adjusted EBITDA plummeted to €12.4 million, or 3.9 per cent of revenues, from €35.6 million in FY22. The adjusted EBIT turned negative, registering at minus €20.5 million compared to a positive €1.2 million in FY22, and the net loss widened to €32.1 million from €9 million in the preceding year, the company said in a press release.

    Aeffe Group reported a revenue of €319 million in FY23, a 9 per cent decrease from €352 million ($347.5 million) in FY22.
    Despite challenges, revenue in Asia grew, especially with the Moschino brand expanding direct distribution.
    The company’s adjusted EBITDA declined to €12.4 million from €35.6 million, and net loss widened to €32.1 million from €9 million.

    The pret-a-porter division of Aeffe Group recorded revenues of €212.4 million, reflecting a 7.6 per cent decline at constant exchange rates (minus 8.4 per cent at current exchange rates) compared to FY22. The footwear and leather goods division also saw a downturn, with revenues dropping to €142.1 million, a 13.1 per cent decrease both at constant and current exchange rates.

    In Italy, which accounts for 42 per cent of the group’s turnover, sales decreased by 7.3 per cent to €134 million, with retail channel sales increasing by 3 per cent and wholesale channel sales contracting by 8 per cent. Sales in Europe fell by 16.3 per cent to €98.6 million, attributed to specific country and market declines. However, in Asia and the rest of the world, the group managed to increase revenues by 4.9 per cent to €66.8 million. Sales in America declined by 20 per cent.

    The wholesale channel, representing 67.1 per cent of the turnover, experienced a 13.9 per cent decrease in revenues at constant exchange rates, amounting to €213.9 million. Meanwhile, the retail channel, which constitutes 29.8 per cent of the group’s sales (€94.9 million), saw a 9 per cent increase at constant exchange rates. Royalty incomes, accounting for 3.1 per cent of consolidated turnover (€9.9 million), declined by 33.7 per cent following the termination of some licenses.

    “2023 was a year of transition for our group which saw a radical reorganisation of the Moschino brand in terms of both creativity and distribution, and at the same time a transformation of its internal structure through a series of corporate mergers and incorporations. The results we are presenting today, expected but not positive, are clearly the result of these transformations and the strong investments of recent years which will bring positive effects as early as 2024,” said Massimo Ferretti, executive chairman of Aeffe.

    Fibre2Fashion News Desk (DP)



    Originally Posted Here

    Popular Posts

    More like this
    Related

    The Watchers Movie Trailer

    Till Lindemann Announces First Solo Tour of North America

    Rammstein frontman Till Lindemann will be heading out...

    ‘Blink Twice’ Trailer | Moviefone

    When tech billionaire Slater King (Channing Tatum) meets...

    DSP 2022 Movie Hindi Dubbed Release Date | Vijay Sethupati New Movie | South Movie 2022

    Dsp 2022 full movie hindi dubbed release date Vijay...
    See Photo – Hollywood Life
    Did Kim Kardashian Address Taylor Swift in 1st Appearance Since TTPD?
    Kelly Osbourne Denies Taking Ozempic, Recalls Mom Sharon Did – Hollywood Life
    David Beckham and Mark Wahlberg’s Relationship
    The Watchers Movie Trailer
    Sasquatch Sunset Movie Review
    The Ministry of Ungentlemanly Warfare Movie Review
    Late Night with the Devil Movie Review
    Reddit Community Lashes Out When Watcher Entertainment Launches Paywall: Is This the Start of a Revolution?
    Jamie Otis, Doug Hehner Reveal BOTH Genders Of Twins
    A New Era of Stellar Sci-Fi Adaptations Has Come to TV
    Which Couples Are Still Together?
    Till Lindemann Announces First Solo Tour of North America
    Mini Consequence Crossword: “Artist Reveal I
    Hozier Earns First Billboard No. 1 Hit with “Too Sweet”
    Coachella Confirms 2025 Dates: How to Get Tickets
    Kering Profits Expected to Tank in First Half of 2024
    French fashion firm LVMH’s revenue rises 3% in Q1 FY24
    10 Tips To Do Business Casual Better
    Great Outfits in Fashion History: Doja Cat's Vivienne Westwood AMAs Gown
    Undead Dread Hits the Switch – UNDYING Shambles to Nintendo on July 25
    New Horror Game on Steam has a 10/10 Rating
    ARENA WARS set to come out June 25th 2024 from Gravitas Ventures
    3 Things Horror and Casino Fans Have in Common
    ‘Blink Twice’ Trailer | Moviefone
    DSP 2022 Movie Hindi Dubbed Release Date | Vijay Sethupati New Movie | South Movie 2022
    Watch: Mesmerizing ‘The Colors Of Luca Guadagnino’ Supercut Video
    Godzilla x Kong : The New Empire | New Final Trailer
    Lindsay Lohan – First (Official Music Video)
    Lady Gaga, Bradley Cooper – Shallow (from A Star Is Born) (Official Music Video)
    NewJeans (뉴진스) ‘Hype Boy’ Official MV (Performance ver.1)
    Lukas Graham – 7 Years [Official Music Video]