As was announced in January, when preliminary data for fiscal 2024 was published, Italian fashion group Aeffe (owner of Alberta Ferretti, Philosophy by Lorenzo Serafini, Moschino and Pollini) generated a revenue of €251 million in fiscal 2024, down 21.2% at constant exchange rates compared to the previous year.
aeffe.com
The good news is that Aeffe is back in the black, having recorded an operating profit of €19.3 million, as opposed to the €32.1 million loss posted in 2023. Other profitability indicators also improved markedly in 2024. EBITDA was €84.7 million (as opposed to €5.8 million the previous year) and EBIT was €48.5 million, compared to a loss of €27.1 million in 2023.
“While we await with confidence for the international markets to bounce back, our group is working with a clear, well-defined strategic vision to reap the benefits of the company’s reorganisation process and of our brands’ repositioning, which I am convinced will be extremely rewarding for us,” said Massimo Ferretti, Aeffe’s executive president, in a press release. “The fashion week that recently ended [in Milan] gave us a great injection of optimism, as the collections by our brands Alberta Ferretti, Moschino and Pollini were received with much enthusiasm. We hope that the current geopolitical instability will be followed by a phase of renewed equilibrium and growth, which I believe will give a significant boost to the fashion and luxury sector, a strategic and central asset for [Italy’s] economy,” he added.
Product category-wise, Aeffe’s ready-to-wear division reported a revenue of €166.1 million, equivalent to a 21.8% decrease at current exchange rates compared to 2023. Footwear and leather goods generated a revenue of €106.2 million, equivalent to a 25.3% downturn.
Revenue in Italy (which accounted for 42.4% of the total) fell by 20.6% to €106.4 million. Revenue in the rest of Europe was €76.5 million (down 22.4%), while revenue in Asia and the rest of the world fell by 20.8%, and revenue in the Americas by 20.2%.
The group’s wholesale revenue (accounting for 63.8% of the total) fell by 25.1% to €160.2 million, while direct retail recorded a smaller downturn, dropping 12.5% to €82.7 million.
To fête its 15th birthday, Jacquemus is celebrating its history. This week, the Parisian label founded in 2009 by Simon Porte Jacquemus launched the Les 15 ans capsule collection, reissuing 18 signature models selected from its archives, chosen among its bestsellers, dresses in particular. The collection is available at Galeries Lafayette in Paris and Saks Fifth Avenue in New York, promoted by ad hoc window displays.
La Robe Maman dress from 2016 – ph Deo Suveera & Pamela Dimitrov – Jacquemus
The anniversary items have been chosen from virtually all the collections launched by Jacquemus since 2013, reflecting its sunny, sensual fashion. Among others, the capsule collection features the Col U 1960s-inspired short dress in performance fabric from 2013, the Amour wedding dress from 2020, the Françoise black dress with large square white collar from 2017, the Epaules géantes maxi tartan jacket with oversized shoulders from 2016, and the Castagna red draped mini dress worn by Kylie Jenner at the Jacquemus runway show staged at the Maeght Foundation in January 2024.
“Each look defines the silhouette as an individual story articulating the Jacquemus language: Round-square geometry, draped cuts and minimalism, architectural silhouettes and shapes, transparency and single-material fabrics, polka dots and stripes, the twin inspiration provided by great 1980s fashion and 1950s couture,” the label said in a press release, underlining that “they are the visual references and obsessions that have defined and inspired Jacquemus, from early on until today.”
A selection of dresses will be matched with each look of the Les 15 ans capsule collection. Among the reissued dresses, La Robe Saudade, La Robe Valérie, La Robe Mazzolu, La Robe Biasi, La Robe Novo and La Veste Camargue will be on sale at all Jacquemus stores, on the label’s e-shop, and at selected retail partners worldwide.
In 2024, Inditex expanded its presence with new store openings across 47 markets, reinforcing its dominance in global fashion retail. But where is the company focusing its expansion strategy, and what does its commercial trajectory look like for 2025? Closing its latest fiscal year on January 31, the Spanish powerhouse marked a significant milestone with its first store openings in Uzbekistan. Now, the group is poised to push forward, adding Iraq to its ever-growing list of markets.
Inditex is set to debut in Iraq in 2025 – Inditex
”We will enter Iraq with stores from all our retail brands, allowing us to introduce our fashion to a broad new customer base. Expanding into a new country not only assesses demand but also measures the market’s reception of our collections. We are incredibly excited about this next step,” stated an Inditex executive during the group’s annual financial presentation, where it reported a 7.5% increase in sales and a 9% rise in profits for 2024.
Alongside its expansion into Iraq, Inditex is reinforcing its presence in strategic global cities, with new flagship locations set to open in Nanjing, China; Athens, Greece; Eindhoven, Netherlands; and Osaka, Japan. Meanwhile, ZaraMan is making a statement with a high-profile opening on Bahnhofstrasse in Zurich, one of Europe’s most prestigious shopping avenues.
Several of Inditex’s other brands are also expanding into new markets in 2025. Bershka will debut in Sweden, Oysho will enter the Netherlands and Germany, and Stradivarius will launch in Austria.
“We will continue executing projects that secure our presence in the most iconic retail destinations around the world,” noted CEO Óscar García Maceiras, citing Zara’s upcoming flagship openings in Nanjing, China, and The Grove, Los Angeles, as prime examples. In addition, Inditex will introduce its third El Apartamento concept—a luxurious retail space merging Zara and Zara Home—within its Serrano Street flagship in Madrid. Meanwhile, London’s Oxford Street will welcome Pull&Bear and Massimo Dutti, while in Paris, Oysho will establish a presence in the distinguished La Madeleine district.
The United States, Inditex’s second-largest market after Spain, remains a strategic priority. In 2025, the company plans to open, renovate, or expand eight stores, with another 13 projects scheduled for 2026. The Los Angeles location will be joined by another opening at Forum Las Vegas, in addition to significant renovations and expansions in Boston and New York’s Hudson Yards.
“We are currently present in 25 states in the country, and in 2026, we will reach 26, including North Carolina,” said the executive.
At the close of 2024, Inditex operated 5,563 stores worldwide, with its total store count decreasing by 129 compared to the previous year. Among its brands, Zara leads with 1,759 stores, followed by Bershka with 854, Stradivarius with 835, Pull&Bear with 800, Massimo Dutti with 528, Oysho with 396, and Zara Home with 391. In total, Inditex’s retail space surpassed 4.6 million square meters.
Beyond its brick-and-mortar presence, the group now operates e-commerce in 214 markets, with online sales soaring 12% in 2024, surpassing the €10 billion milestone (€10.16 billion) for the first time. Digital sales now account for 26.3% of total revenue, supported by 218 million active app users and 8.1 billion online visits, marking a 10% increase year-over-year.
Havaianas, the footwear brand renowned for its flip-flops, has tapped a new ambassador with a global reputation for Spring/Summer 2025, Gigi Hadid. The US top model, who has over 77 million followers on Instagram, will feature in many of Havaianas’s campaigns for next season, presenting models like the Brazil Logo and the Slim Point.
Gigi Hadid is Havaianas’s new face – DR
“Growing up at the beach, I can’t remember a time when I wasn’t wearing this summer staple. I’m excited to be working with this team, and I love that Havaianas is making a comeback. I’ll make sure that flip-flops will feature everywhere, from Paris to New York to the beach,” said Hadid in a press release.
With Hadid as ambassador, Havaianas, owned by Brazilian group Alpargatas, is keen to establish itself as a genuine fashion label.
Havaianas has sold more than 5 billion pairs of flip-flops since it was founded, and currently operates approximately 1,000 stores worldwide, in addition to its network of multibrand retailers.
Entertainment8 years ago