ITALY: Aeffe full-year loss widens to EUR3.2m
- FY loss EUR3.2m (US$4.4m) versus EUR3m
- Revenues down 1.2% to EUR251.1m
- Majority of company's markets saw declines
Luxury apparel and footwear business Aeffe has seen its full-year losses widen on costs linked to the reorganisation of its brand portfolio as well as lower revenues.
The owner of the Alberta Ferretti, Moschino, Pollini brands has not only invested in promoting its Philosophy, Ungaro and Cédric Charlier labels, but last year saw its Jean Paul Gaultier and Cacharel licenses end.
Revenues in the footwear and leather goods division grew 3.5% year-on-year to EUR71.9m, while the prêt-à-porter division rose 0.8% at constant exchange rates to EUR196.9m.
By region, sales declines in the US, Europe, Russia and Japan offset a 5.2% increase in the company's home market Italy and a 4.8% rise in the rest of the world.
However, Aeffe executive chairman Massimo Ferretti said: "We are satisfied with the results of the group, especially thinking about the future."
Fiscal 2013, he added, was a "transition year" particular with regard to the reorganisation of its brand portfolio.
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