On March 11, Italian fashion group Aeffe announced that the Group’s revenues for 2014 increased to €251.5m from €251.1m in 2013. Net profit increased to €2.7m compared to a net loss of €3.2m posted in 2013. Revenues of the prêt-à-porter division amounted to €192.1m, down 2.7 per cent year-on-year while the footwear and leather goods division increased revenues to €86m, up 19.5 per cent.
In 2014 sales in Italy (45.1per cent of the Group’s turnover) increased to €113.6m, up 8.7 per cent, while European sales (22.2% of the Group’s turnover) increased by 11.1 per cent.
Massimo Ferretti, Executive Chairman of Aeffe Spa, said:
“2014 was a crucial year for the Group, which has been pursuing a strategy conceived to enhance the portfolio’s brands. Choices implemented in the renewal of the stylistic offering, in organization and management efficiency have already given good results, which will be fully operational in the coming years. In particular, the return to profit of the Group is definitely a confirmation and a further motivation to look to the future with optimism. We believe that the Group’s brands have a significant potential of development, both in mature and in emerging markets, including through the growth in the accessories segment”
The Russian market, representing 6.6 per cent of consolidated sales, decreased by 14.1 per cent compared to the corresponding period of 2013, solely due to its current difficult economic situation. Sales in the United States, contributing to 6.4 per cent of consolidated sales, decreased by 5.6 per cent at constant exchange rates, a change mostly explained by the decrease in revenues related to brands whose license agreements ended. Japanese sales, contributing to 2.8 per cent of consolidated sales, decreased by 67.9 per cent as a consequence of the reorganisation of the local distribution network, effective from the beginning of 2014.
In the rest of the world, the Group’s sales totalled €42.3m (16.9 per cent of total revenues), recording an increase of 10.4 per cent year-on-year, due to a good trend in China, which posted a 25.8 per cent growth.
The Group, based in San Marignano, near Bologna (Northern Italy), owns a number of brands including: Alberta Ferretti, Philosophy di Alberta Ferretti, Moschino, Moschino Cheap and Chic, Moschino Jeans, Verdemare, and Pollini Studio Pollini.
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