Aeffe continues to reorganize its structure. The Italian fashion group, owner of Moschino, Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini shoes, has announced the merger by incorporation of Velmar. This is the company of which it has controlled 100% for more than 10 years, specialized in the production and distribution of lingerie and beachwear.
This operation is part of «the company’s rationalization and reorganization process aimed at greater efficiency in the management of the group’s activities and their coordination, by reducing decision-making levels and streamlining group synergies with a consequent reduction in fiscal, administrative and management costs,» said Aeffe.
Located in San Giovanni in Marignano, near Rimini, where Aeffe is also based, Velmar started its activity in 1983 with the production and distribution of garments in the lingerie, swimwear and homewear sectors through its own brands, gradually expanding its portfolio to include other brands, whose underwear collections it manages under license.
In 2001, Aeffe acquired 75% of the company and increased its stake to 100% in 2010. Today, Velmar mainly manages Moschino’s swimwear and lingerie collections, as well as licensing Chiara Ferragni’s lingerie and swimwear line.
As part of the group’s rationalization, last year Aeffe took full control of Moschino by buying the missing 30 % of its capital for 66.6 million euros. In 2021, the company was back in the black with a net profit of 12.1 million euros and a turnover of 324.6 million euros, up 20.8 % on 2020.