MILAN — A difficult economy, a slump in sales in the U.S. and Japan, the poor performance of its Pollini division and costs associated with the opening of stores hurt Aeffe SpA’s first-half results, as the Italian fashion group reported a net loss of 10 million euros, or $13.3 million. This compares with a profit of 6 million euros, or $9.1 million, in the same period the year before.
Revenues dropped 23 percent to 111.1 million euros, or $147.7 million, compared with 144.6 million euros, or $221.2 million,in the first six months of 2008. Sales would have dropped 23.9 percent at constant exchange rates and excluding the effect of the Narciso Rodriguez license. Aeffe, which operates the Alberta Ferretti, Moschino and Pollini brands and produces collections for Jean Paul Gaultier, sold its stake in the Narciso Rodriguez brand to Liz Claiborne Inc. in May 2007. Claiborne subsequently sold the holding.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"