MILAN — Aeffe SpA on Tuesday denied speculation that it might change hands.
The denial followed a rise of about 50 percent in the value of Aeffe’s shares since April 22, driven by talk the fashion group might undergo a change in ownership, with Emerisque and Change Capital mentioned as two potential investors that have eyed the group. Aeffe’s statement Tuesday sent its shares down 9.46 percent to close at 1.17 euros, or $1.62 at current exchange.
“Thanks to the awareness and notoriety of Aeffe’s brands, the company has always registered interest from investments funds, both before and after the listing. Being a public company, we regularly participate to meetings with potential shareholders, including funds,” said the company. “Equally, however, we emphasize that there is neither the intention nor the need to find a financial partner, to whom to sell a significant minority stake. In fact, the company has shown a great ability to react to market changes, defining effective business strategies, which are already having positive results.”
Aeffe, which controls the Moschino, Alberta Ferretti and Pollini brands, and produces and distributes collections for brands including Emanuel Ungaro and Cédric Charlier, has been reorganizing its portfolio. The company has tapped Jeremy Scott to revamp Moschino and before that Fausto Puglisi at Ungaro in addition to Natalie Ratabesi at Philosophy, and has been strengthening its distribution.