AEFFE Group (Alberta Ferretti, Moschino, Pollini) posts USD 13,3 million losses

Italian luxury fashion and accessories group AEFFE has annouced this week a loss of USD 13,3 million for the first 6 months of this year. AEFFE owns Alberta Ferretti, Moschino and Pollini brands and produces apparel and leather goods. Pollini has been in a continuous process of restructuring even before the crisis, the Italian leather goods brand being in search of a new positioning and new creative direction. The CEO of AEFFE, however, remains confident blaming the sales drops on the poor performances of Pollini which he believes will emerge successfully restructured. In Eastern Europe, Pollini used to be leading shoes brand in the mid 90s, yet has lost gradually this position due to the lack of creative direction and lower quality.