(Alliance News) - Aeffe Spa announced Thursday that its board of directors approved preliminary revenue figures for fiscal year 2022, reporting revenues of EUR352 million up 8.4 percent from EUR325 million in 2021.

Revenues from the Italian market, accounting for 41 percent of sales, increased by 9.4 percent over 2021 to EUR144.6 million, mainly due to a significant recovery in the retail channel. In contrast, the wholesale channel shows an increase of 6.0%.

Revenues from the Europe market, accounting for 33 percent of sales, increased by 12 percent over 2021 to EUR117.8 million, driven by the significant recovery of the Retail channel, which shows a year-on-year increase of 59.3 percent.

Revenues from the Asia and Rest of the World market, accounting for nearly 19 percent of sales, decreased by 1.3 percent compared to 2021 settling at EUR65.0 million. This decrease was mainly generated by the reorganization of the wholesale channel following the group's takeover of the direct management of the Chinese market, without the associated potential benefits in terms of retail revenues due to the continuation of restrictions there due to the health emergency.

Revenues from the Americas market, accounting for 7.0 percent of sales, increased by 5.6 percent over 2021 to EUR24.6 million. The increase is directly attributable to the excellent result achieved by the wholesale channel, the company explains.

Massimo Ferretti, executive chairman of Aeffe, commented, "Despite the uncertain macroeconomic environment, we are very satisfied with the revenue performance in fiscal year 2022, to which all our brands contributed, exceeding pre-pandemic levels. The significant progression in retail, together with the strong development of accessories, testify to the effectiveness of the investments made for the further enhancement of our strategic positioning. Looking carefully at market developments, we also aim to capitalize on the investment related to the reorganization of the Moschino brand's retail distribution in China, the only area that has marked a slowdown due to health restrictions."

Aeffe on Thursday trades in the green by 6.4 percent at EUR1.46 per share.

By Chiara Bruschi, Alliance News reporter

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