Italian fashion group Aeffe SpA has announced a 5.1% increase in consolidated revenues for the first quarter of 2021, compared to the same period last year. The company, known for its brands including Moschino, Alberta Ferretti, Pollini, and Philosophy, reported revenues of €80.1m ($97.7m), up from €76.2m in Q1 2020. In constant currencies, the increase was even higher at 5.2%.

While the ready-to-wear division experienced a 29% decline in quarterly revenues, the footwear and leather goods division saw a significant rise of 17.1%. This suggests a shift in consumer preferences during the pandemic, with more focus on accessories and products suitable for outdoor activities.

Aeffe witnessed revenue growth in most of the regions it operates in, with America showing the strongest increase at 16.7%. The Asia and Rest of the World segment also experienced growth, driven by Greater China and the Middle East. However, Aeffe’s home market of Italy saw revenues drop by 2.6% due to Covid-19 restrictions. In Europe, excluding Italy, sales rose by 8.4%.

The company’s wholesale business accounted for 81% of total quarterly revenue, with a 16.9% increase. This indicates strong demand from retailers for Aeffe’s products. In contrast, sales in the retail channel declined by 32.3%, reflecting the impact of store closures and reduced foot traffic during lockdowns. However, royalties rose by 9.6% year-on-year.

Aeffe’s net profit for Q1 2021 was €3.8m, a significant improvement compared to just €4,000 in the same period last year. This demonstrates the company’s ability to successfully navigate the challenging business environment caused by the pandemic.

Massimo Ferretti, Aeffe’s executive chairman, expressed optimism about the results and emphasized the company’s focus on sustainability. He highlighted the success of the F/W 2021-2022 sales campaign, as well as Aeffe’s participation in the vaccination campaign by opening an in-house vaccination center for employees and other large companies in the Rimini area.

In recognition of its commitment to sustainability, Aeffe has been included in Statista’s list of 150 Sustainability Leaders in Italy. This recognition analyzes companies based on their environmental, social, and economic criteria.

As of Q1 2021, Aeffe operated 57 directly owned stores worldwide and had 140 franchise locations across Europe and Asia. These physical retail locations play a crucial role in reaching customers directly and providing a unique brand experience.

Useful links:
1. Official Aeffe website
2. Statista’s list of 150 Sustainability Leaders in Italy