The Aeffe Group has achieved €176.5 million revenue in the first half of 2022, compared to €155 million in 2021 (13.9 per cent at current exchange rates). In a context of generalised growth in all geographical areas with the exception of the Far East and in particular in the retail channel, the group recorded a strong acceleration in particular in the US.
In the first half of 2022, revenue of the prêt-à-porter division amounted to €120.2 million, recording an increase of 14.6 per cent at current exchange rates compared to 2021 (13.7 per cent at constant exchange rates). Revenue of the footwear and leather goods division amounted to €80.2 million, with an increase by 17.6 per cent, both at constant and current exchange rates, gross of the eliminations between the two divisions, the company said in a press release.
In the first half of 2022, the group recorded a strong growth, particularly in the retail channel, reporting 41.3 per cent compared to the same period last year. The wholesale channel showed sustained growth (7.1 per cent), despite the penalisation of revenues in China in the second quarter of the year due to the reorganisation of local distribution. The related benefits from the transaction are expected on Retail Revenues generated from the third quarter onwards. In particular, the successful project in China resulted in the opening of 18 direct retail sites, which will change the sales methods and approach to the local market in that area.
Having overcome the difficulties of the acute health crisis caused by the COVID-19 and despite the complex scenario linked to the evolution of the conflict in Ukraine, in the first quarter of 2022, the group recorded double-digit growth in all the markets in which it operates with the exception of the Far East, with very strong increases in Europe, and America.
“First half results reflect the effective business model of the Aeffe Group and the appreciation for our collections, with a significant growth in sales of all our brands in the different sales channels, with a strong progression especially in retail. We are therefore satisfied with the group's performances, as well as for the evolution of the new strategic direction of Moschino and the completion of the project related to the direct management of the distribution on the Chinese market, with the related benefits expected already in the coming months. We continue to carefully monitor the challenging market context, focusing our efforts on a path of constant and sustainable growth, both in the ready-to-wear and accessories segments, together with an expansion of our geographical presence in high-potential markets, including Greater China and United States,” Massimo Ferretti, executive chairman of Aeffe Spa, said.
Fibre2Fashion News Desk (RR)