Italian fashion company Aeffe announces turnover of 279 million euros for fiscal year 2020

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Aeffe SpA, an Italian luxury goods and fashion company, announced a 23.4% drop in turnover to 279.6 million euros in its full fiscal year 2020, which ended on December 31, 2020, compared to sales of € 361.5 million for the previous fiscal year. The group recorded a net loss during the year of 21.4 million euros (FY19: profit of 11.7 million euros).

“In an economic context as difficult as that determined by the profound impact of the pandemic caused by Covid-19, the Group has shown strong resilience and prompt managerial responsiveness. The flexibility of its economic model, combined with the creativity, strength and specificity of its brands, has made it possible to face the new complicated situation with determination and efficiency and to emerge even stronger from the crisis ”, Massimo Ferretti, Executive Chairman from Aeffe Spa, said in a press release.

EBITDA during FY20 was 4.5 million euros (53.1 million euros).

Sales in the Italian market fell 24.2% to 121.9 million euros (160.8 million euros), driven by both retail and wholesale channels, while in Europe (excluding Italy), sales fell 4.9% to 82.6 million euros (86.9 million euros). driven in particular by the good performance of Germany and Eastern Europe. In Asia and the rest of the world, Aeffe sales fell 37.8% to 53.5 million euros (86.0 million euros).

Sales of the Alberta Ferretti brand fell 44.4 percent to 14.5 million euros (26.1 million euros), while sales of the Philosophy brand fell 26.5 percent to € 13.4 million (€ 18.2 million). Moschino sales fell 17.9% to 215.4 million euros (262.5 million euros) and sales of the Polini brand fell 37.6% to 22.4 million euros (35.9 million euros).

Fibre2Fashion Information Office (JL)

Aeffe SpA, an Italian luxury goods and fashion company, announced a 23.4% drop in turnover to 279.6 million euros in its full fiscal year 2020, which ended on December 31, 2020, compared to sales of € 361.5 million for the previous fiscal year. The group recorded a net loss during the year of 21.4 million euros (FY19: profit of 11.7 million euros).


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