Aeffe sells 'Moschino' brand for perfumes to Euroitalia

Aeffe SpA

26/09/2024 17:27

MILAN, Sept 26 (Reuters) - Italian fashion group Aeffe
 AEF.MI  has agreed to transfer the ownership of its 'Moschino'
brand in relation to a range of products such as cosmetics and
perfumes to Euroitalia for 98 million euros ($110 million), it
said on Thursday.
    Euroitalia, which has been making the Moschino fragrances
since 1987, was already the exclusive licensee of the brands in
the portfolio.
    Aeffe, which is struggling to revive its sales and
profitability, said that the deal would help the group to reduce
debt and to support the expansion of its brands.
    Massimo Ferretti, president of Aeffe, said he believed the
deal would benefit both sides.
    "I am firmly convinced that Euroitalia, with its range of
products, will play a leading role in the process of further
evolution and growth of the Moschino brand," Ferretti said.
 ($1 = 0.8945 euros)

 (Reporting by Elisa Anzolin
Editing by Keith Weir)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))