Aeffe

M&A Activity • Sep 26, 2024

Informazione Regolamentata n. 0923-33-2024	Data/Ora Inizio Diffusione 26 Settembre 2024 17:42:02		Euronext Star Milan
Societa'	:	AEFFE
Identificativo Informazione Regolamentata	:	196005
Utenza - Referente	:	AEFFEN02 - Degano
Tipologia	:	REGEM; 3.1
Data/Ora Ricezione	:	26 Settembre 2024 17:42:02
Data/Ora Inizio Diffusione	:	26 Settembre 2024 17:42:02
Oggetto	:	Class 3 Moschino
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FRAMEWORK AGREEMENT SIGNED AND COMPLETED WITH EUROITALIA S.R.L. FOR THE TRANSFER OF THE "MOSCHINO" BRAND WITH REFERENCE TO PERFUMES AND COSMETICS

• The consideration for the operation was agreed at 98 million euros, of which 39,557,787.99 euros paid by Euroitalia today

San Giovanni in Marignano, September 26, 2024. Aeffe Spa - a luxury company listed on the Euronext Star Segment of Euronext Milan Market of Borsa Italiana, operating in the prêt-à-porter and footwear and leather goods sectors with a portfolio of international brands, including Alberta Ferretti, Philosophy di Lorenzo Serafini, Moschino and Pollini – and Euroitalia S.r.l. - one of the main global players in the production and distribution of fragrances and cosmetics – communicate that have reached today an agreement for Aeffe to transfer ownership of the "Moschino" brand in relation to all products belonging to product class 3 of the Nice Classification, i.e. mainly cosmetics and perfumes, as well as scented candles and rooms and textile perfumes, for an amount of 98,000,000 euros.

Today Aeffe and Euroitalia also executed the framework agreement, completing the transfer of the brand portfolio.

The beginning of the fruitful collaboration between the Moschino brand and Euroitalia dates back to 1987 and led to the creation of iconic fragrances, recognized on the market for the creativity of the packaging and the irreverence of the communication campaigns associated with them. These include some of the brand's bestsellers such as Moschino by Moschino, a must-have from the 80s, Cheap & Chic by Moschino which recalls Olive Oyl's silhouette, Glamourous Fruity Floral with its heart-shaped bottle, Toy 2 with the teddy bear bottle, Gold Fresh Couture, the all-gold spray, up to the Pearl fragrance successfully launched on the market this year. Euroitalia, in fact, was already the exclusive licensee of the brands in the portfolio being sold pursuant to a licensing agreement terminated today as a result of the operation.

Euroitalia paid Aeffe a portion of the consideration equal to 39,557,723.16 euros; the remaining portion will be paid on November 29, 2024. The difference between the amount of royalties in favor of Aeffe already advanced by Euroitalia to Aeffe pursuant to the aforementioned licensing agreement (equal to 25 million euros) and the amount of royalties accrued on the date of execution (as of June 30, 2024 equal to 3,057,723.16 euros).

"Over the years, Euroitalia has proved to be an excellent partner with whom we have built a very successful path, launching iconic products that have become benchmarks in the fragrance market," comments Massimo Ferretti, President of Aeffe Group. "This transaction marks a further step in our collaboration, which I believe will bring great benefits to both parties. I am firmly convinced that Euroitalia, with its range of products, will play a leading role in the process of further evolution and growth of the Moschino brand."

"I am extremely happy to sign this agreement with Aeffe, a company with which we share professional and personal key values," states Cav. Giovanni Sgariboldi, Founder and President of Euroitalia. "Our bond with Moschino dates back to the era of its founder, Franco Moschino, with whom we had the privilege of working and innovating the fragrance market. Within our portfolio, Moschino has always represented a challenge not only on a technical level, but also, and perhaps above all, creatively, as from the very beginning the brand has imposed itself on the market with its ability to amaze and excite. Today this challenge becomes even more relevant, and we are happy to be protagonists of this journey."

In addition to giving a significant boost to the Moschino label's brand awareness, this transaction will guarantee the Aeffe Group an injection of liquidity functional to the significant decrease in the Group's Net Financial Position, a positive impact on the income statement and above all a renewed support for the expansion process of its brands.

Contacts:

Investor Relations

AEFFE Spa Matteo Scarpellini Investor.relations@aeffe.com +39 0541 965211

Press Relations AEFFE Spa Alessandra Turra Alessandra.turra@aeffe.com +39 02 76059206