After nearly 20 years with the Italian fashion group that owns among others Moschino, Tassinari is stepping down, to be replaced ad interim by CEO Simone Badioli. Aeffe will also set up a steering committee.
The leading label of Italian fashion group Aeffe has signed a letter of intent with its Chinese partner, Scienward Fashion and Luxury, and will take direct control of its Chinese monobrand stores from June 2022.
The Italian fashion group's revenue as of September 30 was up by 21%, reaching €250 million, but remained 7% below the pre-Covid figure, while its net income soared, posting a 74% increase in two years.
Aeffe, the listed Italian luxury company, said on Tuesday that it has reached an agreement with Sinv to take over the licence for the production and distribution of Love Moschino womenswear collections.
The Italian group achieved revenue of 155 million euros in the first six months of 2021, up 30% year over year, but down 10% compared to 2019, while net earnings tripled in the two years, totaling 17.4 million euros.
The fashion group, which has owned 70% of its flagship brand since 1999, has purchased the remaining 30% from Italy's Siny, taking complete control of the business. The value of the transaction was 66.5 million euros.