MILAN — Aeffe SpA has acquired the remaining 28 percent of Pollini from York Srl for 1.2 million euros, or $1.6 million at current exchange, making the Italian fashion group the sole shareholder.
Aeffe took control of Pollini at the end of 2000 and introduced an apparel line in 2003, which was subsequently shuttered last September as Nicholas Kirkwood was promoted to creative director of the brand.
Aeffe completed the acquisition with the aim to “ensure the full operational efficiency of the Aeffe Group structure, as well as to acquire flexibility in assessing and catching any opportunities for partnership and for strategic operations, especially in the emerging markets where the brand Pollini has great development potential,” the company said.
Over the last several years, Aeffe has denied rumors that it would sell Pollini on several occasions as it was considered an underperformer among the group’s stable of brands, which include Alberta Ferretti, Moschino, Jean Paul Gaultier and Cacharel.
In the first nine months of 2010, Pollini registered sales of 34.9 million euros, or $45.7 million at average exchange, compared to 35.6 million euros, or $48.4 million from the same period in 2009.