Aeffe’s 25% Sales Slide Leads to EBITDA Dive as Pre-Restructuring Looms

Aeffe continues to suffer. The Italian fashion group, owner of Moschino, Alberta Ferreti, Philosophy and Pollini, has closed the first nine months of the year with a double-digit drop in sales and a gross operating profit of more than €10 million in negative. The company has postponed the publication and approval of its official results, as part of the pre-bankruptcy petition it filed in early October.

In the company’s communication on this delay, however, Aeffe also presented its main business figures up to September. Specifically, the Italian group posted a turnover of €155 million, 25.4% less than in the same period a year ago. Gross operating profit (ebitda), meanwhile, plummeted to a negative €11.9 million, compared with a positive €90.9 million the previous year.

These red numbers are what led Aeffe’s board of directors to file a composizione negoziata della crisi, the equivalent of Chapter11 in Italian law, for the Aeffe and Pollini companies, while Alberta Ferreti and Moschino remain outside. “The request and activation of protective measures has been carefully evaluated as the most appropriate solution to ensure stability during the period necessary to implement actions aimed at overcoming the financial stress,“ the company reiterated in a statement.

Aeffe has plummeted its ebitda to nearly twelve million euros in negative

Through September, the Italian group’s debt has already amounted to €193.9 million, €41.5 million more than in the first nine months of the previous year. Sales in the fashion category stood at €95.5 million, down 31.8% on 2024, while in the leather and footwear products category, Aeffe sold €76.8 million, in line with the previous year.

By markets, it is precisely in Italy that Aeffe’s sales posted their worst performance, down 30.3% through September to €62.36 million. The fall, however, was widespread in all regions: in the rest of Europe the group’s turnover fell by a further 17.1% to €52.78 million, while in the Americas the drop was 28.5%, with sales of €8.5 million. In Asia and the rest of the world, the company’s sales amounted to €31.38 million, down 26.6%.

The decline in Aeffe’s turnover by distribution channel was also uniform. Wholesale sales, which account for 65.8% of the group’s business, fell by 25.9% to €101.9 million, while direct-to-consumer sales fell by 19.3% to €50.8 million. Through licensing, Aeffe posted a turnover of €2.21 million, well down from more than seven million a year ago, mainly due to the sale a year ago of the Moschino brand.