Italian luxury group Aeffe S.p.A. has announced its plans to streamline its corporate structure by merging its subsidiaries Moschino and Aeffe Retail into the parent company. This decision is part of Aeffe’s ongoing rationalization and reorganization efforts, which began in 2022 with the incorporation of its subsidiary Velmar.

The merger aims to consolidate operations and improve efficiency within Aeffe’s business. It will not impact the ownership structure of the company. The move reflects Aeffe’s strategy to centralize its operations and create a more streamlined and integrated organization.

In addition to the merger, there will also be a change in leadership at Moschino. After discussions regarding the strategic vision for the brand, the managing director of Moschino, Stefano Secchi, and Aeffe’s subsidiary have mutually agreed to end their employment relationship. This change will be effective from March 31, 2023.

Secchi expressed gratitude to Massimo Ferretti for the opportunity to lead Moschino for the past four years. Despite facing challenges posed by the pandemic and adverse economic conditions, Secchi highlighted the successful execution of significant strategic projects for the brand under his leadership.

The departure of Secchi follows the recent announcement of Jeremy Scott, the creative director of Moschino, leaving the company. No specific reasons were given for his departure, and there has been no indication of a potential successor for the role.

Financially, Aeffe reported a revenue of €352 million in 2022, showing a notable increase from the €324.6 million generated in the previous year. However, the group experienced a loss of €9 million in 2022, in contrast to a profit of €12 million in the previous year. The 2021 profit included non-recurring tax benefits of €9.5 million.

The streamlining of Aeffe’s corporate structure through the merger of its subsidiaries and the departure of Moschino’s managing director and creative director reflects the company’s effort to optimize operations and align its strategic direction. These changes are expected to contribute to Aeffe’s continued growth and success in the luxury fashion industry.

For more information about Aeffe and its subsidiary brands, visit the official website: https://www.aeffegroup.com/en

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