Aeffe Restructures: 221 Layoffs Announced Ahead of Holiday Season

Aeffe, facing an unprecedented restructuring. The Italian fashion group, owner of Moschino, Alberta Ferretti, Philosophy and Pollini has announced 221 layoffs to be executed before Christmas, after having entered in Italy in composizione negoziata della crisi.

The company will lay off 221 workers out of the total of 540 it currently has, Milano Finanza has advanced. The magnitude of the restructuring and the fact that the layoffs are to be carried out at Christmas have forced the Ministry of Enterprise and Made in Italy, which is working with the company and the unions, to intervene.

Of the total layoffs, 81 will take place in Romagna and 141 in Milan, the most critical points. The unions are urging the company to develop and disseminate an industrial plan to reverse the situation, and the public administrations to implement economic measures or extraordinary instruments to tackle the crisis.

The regions of Romagna and Milan are the most affected by Aeffe’s layoffs

Aeffe went to court in October, with a pre-bankruptcy that, for the moment, affects Aeffe and Pollini, leaving out Alberta Ferreti and Moschino. In this process an independent expert, Riccardo Ranalli, was appointed to try to redirect the situation. The company already stated at the time that its top priority was “preserving the assets” and “safeguarding the continuity of the business”, as well as “protecting the interests of investors”.

In this context, in August, the Italian group announced the resignation of Roberto Lugano as director, replaced by Marco Gobbetti, CEO of Moschino earlier in his career. Gobbetti was also CEO of Givenchy and Celine of the LVMH group, and later served as CEO of Burberry. His last position was CEO and managing director at Ferragamo.

Aeffe closed the first half with sales of €102.8 million, down 27.55% from the same period in 2024, on revenues of €141.89 million. Its gross operating profit (ebitda) also suffered in the first half, recording a negative figure of €11.24 million, far from the positive results of €419,000 in the first six months of 2024. At the results presentation, the company also pointed to the luxury crisis as the culprit behind its numbers.