MILAN — Citing improved revenue on increased tourism sales in the last quarter of 2016, Aeffe SpA reported preliminary revenues last year inched up 4.7 percent at constant exchange to 280.7 million euros, or $298.7 million. The company said that overall sales in 2016 were greatly impacted by an improvement in Italy, Europe and Greater China.
At current exchange rates, sales overall gained 4.4 percent.
Revenues in the ready-to-wear division climbed 4.5 percent at constant exchange to 215.8 million euros, or $238.9 million, while footwear and leather goods increased 0.2 percent to 95.9 million euros, or $106.2 million before interdivisional eliminations.
“We registered a good trend in the wholesale channel and a positive impact on the retail channel, also thanks to a recovery of tourists’ flows in Europe,” said Massimo Ferretti, executive chairman.
Related Galleries
Dollar figures are converted from the euro at average exchange rates for the periods in question.
Aeffe controls the Moschino, Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini brands and produces and distributes collections for Cédric Charlier and Jeremy Scott.
In the 12 months ended Dec. 31, sales in Italy were up 5.3 percent at constant exchange to 126.1 million euros, or $139.6 million, representing 44.9 percent of consolidated sales.
Revenues in the rest of Europe (excluding Italy and Russia) improved, increasing 6.4 percent to 59.9 million euros, or $66.3 million, accounting for 21.4 percent of the total. The Russian market, which represents 3.2 percent of total, decreased 0.7 percent to 9.1 million euros. This was an improvement from last year, which saw the Russian market plummet almost 45 percent to due a difficult domestic economy.
Growth in the U.S. slowed, rising only 2.9 percent, compared to a surge of 18.1 percent at constant exchange registered a year earlier.
In the rest of the world, which includes China, sales rose 3.2 percent to 62.6 million euros, or $69.3 million, amounting to 22.3 percent of total, lifted by “the excellent trend” in Greater China, which posted a 7.1 percent growth.
Looking ahead, Ferretti said there are many “encouraging signs for the upcoming months” as the group focuses on organic growth and online sales, yet it is still difficult to make a forecast for 2017.”
Aeffe shares surged on the news, rising nearly 7 percent in mid afternoon Monday trade on the Milan Stock Exchange.