MILAN — Aeffe SpA, which produces and distributes Alberta Ferretti, Jean Paul Gaultier, Moschino and Pollini, said it expects recovery in the second half after net losses of $2.1 million in the first quarter this year.
For the first quarter, Aeffe reported net losses of 1.7 million euros, or $2.1 million, compared with a net loss of 300,000 euros, or $420,000, in the year-earlier period.
Consolidated revenues dropped 15.2 percent to 61.3 million euros, or $76.6 million, compared with the same quarter the year before.
“Even though the wholesale channel remains difficult, affected by orders collected in the third quarter 2009 when the macroeconomic situation was very uncertain, the first quarter of 2010 has confirmed signs of recovery,” the company’s executive chairman Massimo Ferretti said. “We believe the improving trend should continue in the second half.”
Aeffe’s losses before interest, taxes, depreciation and amortization amounted to 1.5 million euros, or $1.87 million, compared with EBITDA of 3.8 million euros, or $5.3 million, in the first quarter 2009.
Revenues from the ready-to-wear unit slipped by 11.6 percent compared with the first quarter of last year to 51.2 million euros, or $64 million, while revenues of the footwear and leather goods division declined 28.5 percent to 13.1 million euros, or $16.4 million.
Sales slipped in all regions. In particular, sales in Russia decreased by 34.4 percent to 3.1 million euros, or $3.9 million. In the U.S., they dropped 21.1 percent to 4.3 million euros, or $5.4 million, while in Italy they decreased by 12.4 percent to 26.2 million euros, or $32.7 million.
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion
Eighty degree temperatures and outdoor installations at the annual Art Basel Miami Beach called for bright, elevated beachwear. See more street style pictures on WWD.com. #theyarewearing #ABMB (📷: @lifeinreverie)
Following September’s emotional tribute to her brother Gianni, Donatella Versace wanted to bring the spring show’s deep sense of intimacy to her @versace_official pre-fall collection. Donatella found inspiration in Versace Palazzo in Milan and from Gianni’s opulent apartment. Archival patterns and new motifs were splashed on silk shirtdresses and fitted jersey frocks. See the rest of the photos on WWD.com. #wwdfashion
Demna Gvasalia continues to shake up the Paris fashion calendar — and experiment with new runway timetables for his @vetements_official brand. WWD has learned that Vetements plans to stage its next coed show for the fall 2018 season on January 19 during Men’s Fashion Week in the French capital. Details about the timing and venue have not been confirmed — stay tuned on WWD.com to catch the latest. #wwdnews (📷: @giovanni_giannoni_photo)
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)