Aeffe turnover decreases by 9 percent in 2023

In the year 2023, Aeffe Group achieved revenues of 319 million euros, down 9 percent at constant exchange rates and 9.5 percent at current exchange rates.

Revenues of the prêt-à-porter division amounted to 212.4 million euros, recording a decrease of 7.6 percent at constant exchange and 8.4 percent at current exchange rates. Revenues of the footwear and leather goods division amounted to 142.1 million euros, a decrease by 13.1 percent, both at constant and current exchange rates, compared to 2022.

Commenting on the preliminary results, Massimo Ferretti, executive chairman of Aeffe, said: “As expected, we are closing 2023 with a slight decrease in our turnover mainly due to a slowdown in the European and American markets. However, we are satisfied with the performance of the retail channel, linked to the distribution reorganisation in China, where during 2022 we took direct control of the Moschino stores."

Sales on the Italy market, representing 42 percent of turnover, decreased by 7.3 percent to 134 million euros. Retail channel saw an increase by 3 percent compared to the nine months of 2022, while the wholesale channel recorded a contraction of 8 percent.

Sales in Europe, with 31 percent of total turnover, reported a decrease of 16.3 percent to 98.6 million euros. In Asia and in the Rest of the World, the group achieved revenues of 66.8 million euros, up by 4.9 percent compared to 2022. Sales in America recorded a decrease of 20 percent.

Revenues of the wholesale channel, which represents 67.1 percent of turnover, recorded a decrease of 13.9 percent, while revenues of the retail channel, equal to 29.8 percent of group sales, increased 9 percent compared to the previous year. Royalty incomes decreased by 33.7 percent following the termination of some licences for the Moschino brand.