MILAN — Aeffe Spa is undergoing major changes. The latest, unveiled on Thursday, is that the company will sell Moschino‘s beauty business to Euroitalia for 98 million euros.
The news comes during the same week that Alberta Ferretti said she will step down as creative director of her namesake brand. Aeffe is the parent company of both brands, as well as Philosophy di Lorenzo Serafini and Pollini.
The firm has reached an agreement with beauty company to transfer the ownership of the Moschino brand’s beauty products — mainly cosmetics, fragrances, scented candles, rooms and textile perfumes.
The two companies have executed the framework agreement, completing the transfer of the brand portfolio.
Euroitalia has been the licensee of the brand’s beauty products since 1987. Ever since, the companies launched key fragrances and commercial successes, ranging from Moschino by Moschino and the Cheap & Chic by Moschino scent, best known for its flacon shaped in Olive Oyl’s silhouette, to Glamourous Fruity Floral with its heart-shaped bottle and the teddy bear-shaped Toy 2.
Devon Aoki behind the scenes of Moschino’s Toy 2 ad campaign.
Courtesy Photo
The new deal implies that the licensing agreement was terminated on Thursday.
“Over the years, Euroitalia has proved to be an excellent partner with whom we have built a very successful path, launching iconic products that have become benchmarks in the fragrance market,” said Aeffe Group’s executive chairman Massimo Ferretti, adding that the deal “marks a further step in our collaboration, which I believe will bring great benefits to both parties.”
The agreement and the injection of cash will help Aeffe at a challenging time. The group in the first half reported a net loss that had widened to 20.4 million euros compared with 11.7 million euros in the first half last year, on a 14.9 percent decrease in revenues to 138.6 million euros.
Euroitalia’s founder and president Giovanni Sgariboldi also expressed his satisfaction for the deal, underscoring the “professional and personal key values” shared by the companies.
“Our bond with Moschino dates back to the era of its founder, Franco Moschino, with whom we had the privilege of working and innovating the fragrance market,” Sgariboldi said. “Within our portfolio, Moschino has always represented a challenge not only on a technical level, but also, and perhaps above all, creatively, as from the very beginning the brand has imposed itself on the market with its ability to amaze and excite. Today this challenge becomes even more relevant, and we are happy to be protagonists of this journey.”
Last year, Euroitalia registered record sales that grew 24.4 percent to 857.4 million euros compared to 2022. The Euroitalia portfolio includes licenses for Versace, Michael Kors, Missoni, Dsquared2, Brunello Cucinelli, as well as proprietary labels such as Naj Oleari Beauty and Atkinsons 1799.
