Luxury group Aeffe Spa has announced the sale of part of the Moschino brand to Euroitalia for 98 million euros, expanding on an already long-running collaboration between the two conglomerates.
The sale is specifically in relation to all products under the product class 3 of the Nice Classification, which includes mainly cosmetics, perfumes, scented candles and textile perfumes.
Aeffe announced the move in a release, in which it stated that Euroitalia had already paid a portion of the consideration amounting to 39.6 million euros, with the remaining portion to be paid on November 29.
The sale also falls alongside the execution of a framework agreement between Aeffe and Euroitalia, completing the transfer of the brand portfolio and thus bringing to an end a licensing agreement between the two as a result of the operation.
Aeffe noted that the transaction would provide an injection of liquidity that will be used to significantly decrease the group’s net financial position, pushing forward a positive impact on its income statement while bolstering the expansion process of its brands.
Speaking on the news, president of Aeffe Group, Massimo Ferretti said: “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.
“This transaction marks a further step in our collaboration, which I believe will bring great benefits to both parties. 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.”
