Italian luxury group Aeffe S.p.A. is undergoing a comprehensive restructuring of its corporate structure by incorporating its subsidiaries Moschino and Aeffe Retail. This strategic move is part of Aeffe’s ongoing efforts to rationalize and reorganize its business operations, which began last year with the merger of its subsidiary Velmar. Despite the corporate changes, the composition of Aeffe’s shareholding will remain unchanged.
In conjunction with the corporate restructuring, Aeffe also made an announcement regarding the departure of Stefano Secchi, the managing director of Moschino. This decision follows discussions about the strategic vision for the Moschino brand. Secchi expressed his gratitude to Massimo Ferretti, the chairman of Aeffe, for the opportunity to lead the renowned label for the past four years. Despite the challenges brought about by the COVID-19 pandemic and the adverse economic situation, Secchi highlighted the successful execution of significant strategic projects for the brand during his tenure.
Coinciding with Secchi’s departure, it was recently disclosed that Jeremy Scott, the creative director of Moschino, will also be leaving the label after almost a decade. No specific reasons were provided for Scott’s departure, and no potential successors were mentioned at this time.
The Aeffe group reported a revenue of €352 million in 2022, representing an 8.4% increase compared to the previous year. However, the group experienced a loss of €9 million, in contrast to a profit of €12 million in 2021, which included non-recurring tax benefits. These financial results underscore the challenges faced by the luxury industry amidst the COVID-19 pandemic.
Aeffe’s decision to streamline its corporate structure and part ways with Moschino’s managing director reflect the company’s determination to optimize its operations and adapt to the evolving market conditions. As the luxury sector continues to undergo significant transformations, Aeffe aims to position itself for long-term success and uphold its prominent standing as a leading player in the industry.
Links:
1. [Aeffe S.p.A. Official Website](https://www.aeffe.com)
2. [Moschino Official Website](https://www.moschino.com)
