Italian fashion firm Aeffe posts revenue of €176.5 million in H1

In the first half of 2022, the revenue of the prêt-à-porter division amounted to €120.2 million, recording an increase of 14.6 percent at current exchange rates compared to 2021 (13.7 percent at constant exchange rates). Revenue of the footwear and leather goods division amounted to €80.2 million, with an increase of 17.6 percent, both at constant and current exchange rates, gross of the eliminations between the two divisions, the company said in a press release.

In the first half of 2022, the group recorded strong growth, particularly in the retail channel, reporting 41.3 percent compared to the same period last year. The wholesale channel showed sustained growth (7.1 percent), despite the penalization of revenues in China in the second quarter of the year due to the reorganization of local distribution. The related benefits from the transaction are expected in Retail Revenues generated from the third quarter onwards. In particular, the successful project in China resulted in the opening of 18 direct retail sites, which will change the sales methods and approach to the local market in that area.

Having overcome the difficulties of the acute health crisis caused by COVID-19 and despite the complex scenario linked to the evolution of the conflict in Ukraine, in the first quarter of 2022, the group recorded double-digit growth in all the markets in which it operates except the Far East, with very strong increases in Europe, and America.

“First half results reflect the effective business model of the Aeffe Group and the appreciation for our collections, with significant growth in sales of all our brands in the different sales channels, with a strong progression, especially in retail. We are therefore satisfied with the group's performances, as well as for the evolution of the new strategic direction of Moschino and the completion of the project related to the direct management of the distribution on the Chinese market, with the related benefits expected already in the coming months. We continue to carefully monitor the challenging market context, focusing our efforts on a path of constant and sustainable growth, both in the ready-to-wear and accessories segments, together with an expansion of our geographical presence in high-potential markets, including Greater China and the United States,” Massimo Ferretti, executive chairman of Aeffe Spa, said.