Aeffe Group achieved EUR176.5m in revenue in the first six months of 2022 compared to EUR155m in 2021 (13.9% at current exchange rates). The group has recorded a significant acceleration, especially in the US, in a generalised growth context in all geographic areas except the Far East.
The revenue of the pre-a-porter business in the first half 2022 was EUR120.2m, a rise of 14.6% at current exchange rate compared to the same period of 2021 (13.7% at constant rates). The footwear and leather division’s revenue was EUR80.2m, an increase of 17.6 %, at both constant and current exchange rate, gross of eliminations.
The group reported a significant growth in the first half 2022, especially the retail channel. This was 41,3% higher than the same period the previous year. Wholesale channel growth was sustained (7.1%), despite revenue penalties in China during the second quarter due to reorganisations of local distribution. Benefits from the transaction will be seen in Retail Revenues from the third quarter. The successful project in China led to the opening of 18 retail outlets, changing the approach and sales methods in that region.
The group, which operates in Europe and America, has seen a very significant increase in sales in the first quarter 2022. This is despite the COVID-19-caused acute health crisis and the complex scenario related to the evolving conflict in Ukraine.
“First-half results reflect Aeffe Group’s effective business model and appreciation for its collections. Sales of all brands have grown significantly in different channels of sales, with strong progress in retail. We are satisfied with the performance of the group, and with the development of Moschino’s new strategic direction, as well as the completion of a project relating to the direct distribution of products on the Chinese market. The benefits of this project should be seen in the next few months. We will continue to closely monitor the difficult market conditions, and focus our efforts on a continuous and sustainable growth path, both for the ready-to wear and accessories segments. This includes an expansion of Aeffe Spa ‘s geographical presence, which will include Greater China and the United States.
