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Aeffe revenues decrease 0.2 percent at the end of nine months

Business

Aeffe revenues decrease 0.2 percent at the end of nine months

By Prachi Singh

Nov 11, 2014

REPORT_ The Board of Directors of Aeffe in its consolidated results for the first nine months of 2014 said that its consolidated revenues amounted to 192.9 million euros (239.4 million dollars) compared to 193.3 million euros (240 million dollars), with a 0.2 percent decrease at current exchange rates and below 0.2 percent at constant exchange rates.

Revenues of the prêt-à-porter division amounted to 147.3 million euros (182.8 million dollars), down by 2.2 percent at constant exchange rates and by 2.2 percent at current exchange rates. According to the company, net of the effects of already terminated licenses and of the reorganization of the Japanese distribution network, revenues of the prêt-à-porter division would have increased by 7 percent at constant exchange rates. Revenues of the footwear and leather goods division increased by 15.2 percent.

According to Massimo Ferretti, Executive Chairman of Aeffe, “The significant acceleration of the Group is the result of a strategy allowing us to redefine our offer. Choices involving portfolio brands, style and distribution have increased the visibility of our brands and building solid bases for a further future development. This positive view is confirmed by a 15 percent increase in the orders backlog of the Spring/Summer 2015 collections compared to the last year”.

At the end of nine months, sales in Italy, amounted to 45.4 percent of consolidated sales, registered a very positive trend posting a 5.6 percent increase. At constant exchange rates, sales in Europe, contributing to 22.3 percent of consolidated sales, increased by 8.8 percent. The Russian market, representing 7.1 percent of consolidated sales, decreased by 11.4 percent compared to the corresponding period of 2013. Sales in the United States, contributing to 5.9 percent of consolidated sales, increased by 3.2 percent at constant exchange rates. Japanese sales, contributing to 2.6 percent of consolidated sales, decreased by 67.3 percent. In the Rest of the World, the Group’s sales amounting to 16.7 percent of consolidated sales, recorded an increase of 11 percent owing to positive trend in Greater China, which posted a 28 percent growth.