Italian fashion group Aeffe is continuing its ongoing reorganization with the merger of lingerie and beachwear producer Velmar into the group. Aeffe, the owner of renowned brands such as Moschino, Alberta Ferretti, Philosophy by Lorenzo Serafini, and footwear brand Pollini, has held a 100% stake in Velmar for more than ten years. The integration of Velmar into Aeffe is a strategic move aimed at improving decision-making processes, optimizing synergies within the group, and ultimately reducing costs while increasing overall operational efficiency.

Velmar, established in 1983 and based in San Giovanni in Marignano, specializes in the manufacturing and distribution of lingerie, beachwear, and homewear. Initially, the company focused on its own brand’s collections but gradually expanded its portfolio to include the management of underwear lines for other fashion labels under licensing agreements. Aeffe initially acquired a 75% stake in Velmar back in 2001 and later obtained full ownership in 2010. Currently, Velmar is responsible for overseeing the beachwear and lingerie collections of Moschino, in addition to holding the licensing rights for Chiara Ferragni’s lingerie and swimwear ranges.

This merger and reorganization effort are part of Aeffe’s broader strategy to reinforce its standing in the fashion industry. Last year, the company successfully gained complete control of Moschino by acquiring the remaining 30% stake for €66.6 million. Additionally, Aeffe took over the Love Moschino line, which was previously developed by Sinv under a licensing agreement. These strategic maneuvers have proven fruitful, as Aeffe achieved profitability in 2021, reporting a net income of €12.1 million and a revenue of €324.6 million. This represents a significant 20.8% increase compared to the previous year.

[Useful Links]
1. Aeffe Group History
2. Velmar Official Website