Moschino Owner Aeffe Pursues Pre-Restructuring Strategy to Tackle Financial Woes

Aeffe enters the courts. The Italian fashion group, owner of Moschino, Alberta Ferreti, Philosophy and Pollini, has filed for pre-pack composizione negoziata della crisi, at the request of the board of directors as a result of the crisis the company is going through.

As reported by Aeffe in a statement, the pre-pack only affects Aeffe and Pollini, while Alberta Ferreti and Moschino remain outside. The process includes the request for the appointment of an independent expert and the application of protective measures to shield the financial situation of the company, which reported red numbers and a 27% drop in sales in the first half of the year.

The request and the activation of protective measures “has been carefully evaluated as the most appropriate solution to ensure stability during the period necessary to implement actions to overcome the financial tensions,“ says the statement, which blames the situation on the “deep crisis involving the entire fashion and luxury sector”.

Aeffe’s board of directors exposes a “deep crisis in fashion and luxury”

The company’s objective is to “preserve equity” and “safeguard the continuity of the business” as well as “protect the interests of investors.“ Kpmg has been appointed as financial advisor, while the Orsingher Ortu Avvocati Associati law firm will serve as legal advisor to Aeffe and Pollini.

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.