Italian fashion group Aeffe grows 12% in 2017
After closing the first nine months of 2017 with a net income surge of 144%, Italian fashion group Aeffe enjoyed another record growth year, generating a consolidated revenue of €312.6 million (+11.6% at constant exchange rates, +11.4% at current exchange rates) for the whole of 2017.
"The results for 2017 reflect our strategy of constant attention to quality and to the enhancement of our brands’ international positioning," said Aeffe Spa's Executive President Massimo Ferretti, who emphasised how revenue for all of the brands owned by the group grew in double figures.
In terms of distribution channels, sales by the group's directly owned stores posted a robust 18.6% growth at constant exchange rates (+18.4% at current rates). Wholesale revenue was also on the rise, growing 9% at constant exchange rates (+8.9% at current rates).
Geographically, Aeffe recorded strong performances in Italy (+20.7%, the country accounting for 48.7% of the group's total revenue), Europe (+13.6%) and Greater China (+16.5%). Business in the USA instead posted a downturn, with revenue falling by 17.5% at constant exchange rates, chiefly due to a slow-down in department store sales.
In terms of product categories, the ready-to-wear division's revenue reached €239.8 million, rising 11.4% at constant exchange rates (+11.1% at current rates). Revenue for the footwear and leather goods division increased by 12.8%, to €108.2 million, both at constant and current exchange rates, before inter-divisional adjustments.
Aeffe SpA, owner of Alberta Ferretti, Philosophy by Lorenzo Serafini, Moschino, Pollini, Jeremy Scott and Cédric Charlier, closed the 2016 financial year with a revenue of €280.7 million.
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