Moschino starts a joint venture with Altana for its junior line
Moschino is taking control of its children's lines. Since the Italian fashion group Aeffe took over 100% of the capital of its star brand a year ago, it has multiplied efforts to internalize its main activities. The latest of these is the creation of Moschino Kids, a joint venture with its original licensee Altana Società Benefit. The luxury house holds a majority stake of 70% and Altana the remaining 30%.
This specialist in high-end junior clothing, founded in 1982 by Marina Salamon, who also manages the children's line of Philipp Plein, has managed Moschino's Baby, Kids and Teen collections under license since 2008. As the label says in a statement, Altana "will continue to develop for Moschino Kids the activities related to the realization, promotion and marketing of its children's collections".
This agreement, which begins with the Autumn/Winter 2023/24 season, is of "great strategic value", Moschino emphasized, as it will allow the brand "to intervene directly in the management and development of the children's collections, integrating them in the best way possible with the general activity of the company, as well as with the image of the company and Moschino". The label will be able to pursue "its own project of commercial penetration and harmonization of its image".
The two partners have agreed on the possibility of call options on both sides. "Following the exercise of its call options, Moschino's stake in the share capital of Moschino Kids could therefore decrease to 55%, or increase to the entire capital," the company said.
In July 2021, Aeffe, which also owns Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini shoes, increased its stake in its flagship brand Moschino to 100% by purchasing the remaining 30% stake from Sinv Holding.
Since then, Moschino, which represents 79% of the group's total sales, has been at the center of a major restructuring. The brand, whose style is directed by Jeremy Scott, has taken direct control of its distribution in China, where it has opened a subsidiary, and has also taken over the management of its young Love Moschino line, previously developed under license by Sinv. In the first half of the year, it saw its sales increase by 8.1% to 139.5 million euros.
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