Italian fashion group Aeffe has announced a new financial operation regarding Moschino. The latter has sold a 15% stake in Moschino Kids to its partner Altana Società Benefit, but remains a majority shareholder in the company the two partners set up in September 2022 to develop and run Moschino’s childrenswear collections. To better control the business, Aeffe had created a joint-venture company with Altana, a long-standing Moschino licensee and a specialist in high-end childrenswear, in which Moschino held a 70% stake and Altana a 30% one.

At the time, the partners had envisaged the possibility that either part could exercise a purchase option. “Following the exercising of a purchase option, Moschino’s stake in the share capital of Moschino Kids could be reduced to 55%, and it could equally grow to 100%,” said Aeffe. In the end, it was Altana who exercised the purchase option that enabled it to acquire an additional 15% stake. It now holds a 45% stake in Moschino Kids, while Moschino’s stake has been reduced to 55%.

Altana, a childrenswear specialist founded in 1982 by Marina Salamon, has “bought the corresponding shares, at a price equal to the nominal value of €1,500,” said Aeffe in a press release, adding that “Moschino Kids is now still jointly held by Moschino and Altana, respectively with a 55% and a 45% share.” Moschino Kids commercialises three separate collections, for babies from 0 to 3 years of age, for young boys and girls aged 4 to 8, and for teenagers aged 10 to 14.

In 2021, Aeffe, which also owns Alberta Ferretti, Philosophy by Lorenzo Serafini and footwear brand Pollini, increased its shareholding in its star label Moschino to 100%. Since then, Aeffe has been extremely active with the label. It has taken full control of its distribution in China, and is now running in-house the young line Love Moschino, previously developed under licence by Sinv. In 2023, Aeffe carried out the merger by incorporation of its subsidiaries Moschino and Aeffe Retail, acquiring full control of both.

Last year was especially complex for Moschino, owing to the departure of Jeremy Scott, who had been the label’s creative director for 10 years, and then following the death in November of Scott’s successor Davide Renne, who was replaced in January by Argentinian designer Adrian Appiolaza. Moschino accounts for 76% of Aeffe’s business. The label’s revenue fell from €273.3 million in 2022 to €240.8 million a year later, equivalent to an 11.3% decline at constant exchange rates.