Italy’s Aeffe Group saves Ungaro

Italian luxury group Aeffe, owner of Alberta Ferretti, Moschino and Pollini, has signed a strategic partnership with Aimz Acquisition to license French fashion brand Ungaro. Through the agreement, Aeffe will produce and distribute apparel under the Ungaro label, having full control over creative direction and marketing. Aeffe has already announced Sicilian fashion designer Fausto Puglisi as the new Creative Director of Ungaro.

Aeffe will also have a preemption right to acquire a free of charge minority stake in Ungaro, provided certain financial objectives are met by 2020.  The new Ungaro collection by Fausto Puglisi will debut for the Fall/Winter 2013 collections during Paris fashion week in March 2013

After the departure of its founder in 2005, the house of Ungaro has been struggling financially mainly due to lack of a strategic creative direction.

Emanuel Ungaro 1968 collection (photo NY Times)