Moschino owner Aeffe posts 26.5% gain in Q1 revenue
Italian luxury group Aeffe, which owns the Moschino, Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini brands, has reported a 26.5% rise in revenues (£86.3 million) in Q1 of fiscal year 2022.
For the three months ending 31 March 2022, the group posted a net profit of £7.5 million (€8.9 million), a £4 million (€4.7 million) increase compared to the first quarter 2021.
Retail revenue from stores and online, which represents 19.2% of group sales, rose 60.8% to £16.6 million (€19.5 million) while wholesale revenue, which represents 76.8% of turnover, grew 19.9% year on year to £66.3 million (€78 million).
Massimo Ferretti, Executive Chairman of Aeffe Spa, said: "The first quarter of 2022 confirmed the trends of the financial year 2021 with a significant growth in revenues and a more than proportional progression in profitability, results obtained thanks to the good performance of all our brands together with the benefits related to the structural efficiency of the business model implemented over the last two years.
"In addition, despite the uncertainty linked to the geopolitical tensions of the ongoing conflict in Ukraine, the 9% growth in order intake for collections, witnesses the appreciation of our customers for the group's brands.
"The renewed strategic direction continues regularly with the new course for the Moschino brand and the project for the direct management of the distribution in the Chinese market, which will materialise in the next quarter."