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.
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 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.
The Italian eyewear group has bought a 70% stake in Blenders Eyewear LLC from Chase Fisher, who founded the company in 2012 and remains as CEO with a 30% interest. The company’s full valuation was $90 million.
Safilo's performance improved in the first quarter, despite weather that was not very conducive to sunglass sales in many of its key markets. But while Europe and Asia were strong, North America remains a problem.
For its 2014 financial year, the Italian fashion group has posted 251 million euros in revenue, in line with 2013, according to the preliminary results. The reorganisation of the company over the past few years is sta...