The Italian fashion conglomerate Aeffe has announced a significant transition regarding its iconic ‘Moschino’ brand. In a deal valued at 98 million euros (approximately $110 million), Aeffe will transfer ownership of the Moschino label for various product categories, including cosmetics and perfumes, to Euroitalia. This decision was officially communicated on Thursday.
Euroitalia has been an exclusive licensee of Moschino fragrances since 1987, providing it with a rich history with the brand. This strategic agreement marks a crucial step for Aeffe, which has been facing challenges in revitalizing its sales and boosting profitability. The leadership at Aeffe anticipates that this financial move will help decrease the company’s debt burden while fostering the growth and expansion of its various brands.
Massimo Ferretti, the president of Aeffe, expressed optimism about the partnership, suggesting that it presents mutual benefits. “I am firmly convinced that Euroitalia, with its extensive product offerings, will play a pivotal role in the ongoing evolution and growth trajectory of the Moschino brand,” Ferretti stated, reflecting confidence in Euroitalia’s capabilities.
