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Aeffe returns to profit in 2024, but revenue drops 21.2%

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10 hours ago

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Nicola Mira

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March 17, 2025

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.

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new boutiques establish rue Saint-Honoré as a fragrance hub

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17 minutes ago

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March 18, 2025

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Nazia BIBI KEENOO

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March 18, 2025

Rue Saint-Honoré is elevating its fragrance scene in Paris’ 1st arrondissement, drawing top luxury brands. The iconic street will welcome new niche perfumery boutiques in the coming weeks, further cementing its status as a premier scent destination.

The upcoming Creed boutique onrue Saint-Honoré – FNW

French fragrance house Matière Première will open its first-ever standalone boutique at 306, rue Saint-Honoré, steps away from Christian Dior Parfums, Parfums de Marly, and Fragonard. The opening comes a few months after luxury giant Kering took a stake in the brand, which was founded in 2019 by Aurélien Guichard, Cédric Meiffret, and Caius von Knorring.

Another Kering-backed brand is also making its way to rue Saint-Honoré. Creed will open a boutique at 211, rue Saint-Honoré, taking over the space previously occupied by footwear brand Cosmoparis. Kering acquired the historic fragrance house, founded by James Henry Creed in 1760, in October 2023. At the time, Creed generated annual sales of €250 million and already operated a Paris boutique on rue des Saints-Pères in the 7th arrondissement.

In early April, Italian perfumer Acqua di Parma, part of the LVMH group, will open a boutique at 305 rue Saint-Honoré, near Byredo (Puig Group) and directly across from the upcoming Matière Première store. The brand—founded in 1916—is already present at La Samaritaine and BHV Marais and previously operated a boutique on rue des Francs-Bourgeois in the Marais. This district has also seen a growing number of beauty and fragrance brands set up shop.

Maison Crivelli is set to open on rue Saint-Honoré by the end of the year.
Maison Crivelli is set to open on rue Saint-Honoré by the end of the year. – FNW

By the end of the year, Maison Crivelli will also join the neighborhood, opening at 314, rue Saint-Honoré in the space formerly occupied by jewelry brand Satellite. Currently sold in 44 countries through 450 retail points, the independent fragrance house—founded seven years ago—will unveil its first standalone boutique.

According to trend forecasting firm NellyRodi, the global niche fragrance market is valued at nearly $3 billion (€2.7 billion) and is expected to reach $7.4 billion by 2031.

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Bogner reports another record-breaking year

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47 minutes ago

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March 18, 2025

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Nazia BIBI KEENOO

Published



March 18, 2025

Crisis? What crisis? Bogner appears to be unaffected. The Munich-based luxury and sportswear brand once again posted record-breaking results for the 2023/24 fiscal year, with revenue climbing 7% to €187.6 million, compared to €175.6 million the year before.

Spring/Summer 2025 campaign image. – FIRE+ICE

Growth spanned all distribution channels across both core brands, Bogner and Fire+Ice. Digital sales surged by 15% year over year, while wholesale revenue increased by 8% and retail sales grew by 2%.

“Our record revenue in the 2023/24 fiscal year highlights our strength as a luxury sports fashion brand. Bogner is also on track to achieve sustainable growth in the current fiscal year,” said CFO Frank Wiesner. 

The company further expanded its global footprint with new stores in the United States, the United Kingdom, and France. Alongside a new permanent location on Madison Avenue in New York, a partner store opened in London’s Mayfair. Several pop-up and partner locations were also launched in the French Alps, in elite ski resorts such as Annecy, Megève, Courchevel, and Val d’Isère.

Bogner continues to strengthen its international presence and brand awareness while benefiting from the strong performance of both core brands.

A key focus of the past fiscal year was product innovation, with a stronger link between ready-to-wear and active sports collections. Jersey, knitwear, and outerwear were key categories, contributing to an expanded year-round product portfolio.

The Munich-based luxury fashion brand remains a strong player in the golf sector.
The Munich-based luxury fashion brand remains a strong player in the golf sector. – BOGNER

Looking ahead to 2024/25, Bogner remains focused on international expansion, with its home market in the DACH region continuing to play a central role.

Another priority is the strategic development of its omnichannel capabilities. Alongside strengthening its digital business, the company is optimizing processes to better meet the needs of strategic partners and expand its international network.

“We are growing thanks to the outstanding dedication of the entire Bogner team. Our community represents a unique lifestyle driven by a passion for sports, fashion, and innovation. This is reflected in our strong core brands and first-class portfolio,” said Daniel Hiendlmeier, appointed Chief Brand Officer and Managing Director in the summer of 2024.

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Harvey Nichols to shutter Liverpool One Beauty Bazaar

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1 hour ago

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March 18, 2025

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We’re used to hearing about stores opening at Liverpool One these days but news has emerged that a high-profile retailer at the giant mall is shutting down.

Liverpool One

The Harvey Nichols Beauty Bazaar that’s been open since 2012 is to close with a Harvey Nichols spokesperson saying the company is focusing on “full category stores”. 

That’s a key part of its growth strategy under still-new Julia Goddard, a former Alexander McQueen exec, but is interesting given the growth and importance of the premium beauty sector. 

In fact, standalone beauty stores remain a key part of rival Harrods’ strategy via its H Beauty chain, while Boots has opened a beauty-only store, Sephora is expanding fast and other retailers like M&S and Next continue to see beauty as a key category.

But perhaps it’s the intensifying competition that’s the issue and in fact, Sephora is opening at Liverpool One this spring.

Harvey Nichols also said: “We have reviewed our store portfolio and mutually agreed with the landlord of our Beauty Bazaar location in Liverpool to surrender the lease as we focus on investment into full-category stores.

“Unfortunately, this means that our employees in the Liverpool store may be at risk of redundancy. We have entered into a consultation process and are doing everything we can to support those affected by the surrender.”

A Liverpool One spokesman said the store has “has made an important contribution to Liverpool One success since opening. We’re committed to bringing the best, in-demand brands to [the mall] and we have well-progressed plans to transform the space that will ensure Liverpool One continues to go from the strength-to-strength.”

The closure is expected in the middle of next month and will leave a noticeable gap in the mall given its large size (it covers 22,000 sq ft and three floors). But Liverpool One, which is now almost solely owned by landlord Landsec, should have no problem filling the space that was once a Habitat store. The centre is one of the UK’s supermalls and has announced a raft of openings in recent years showing that it’s one of the key destinations on retailer wishlists.

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