In an effort to restructure its business, Aeffe – the clothing retailer from Italy – has announced the incorporation of its lingerie and beachwear producer Velmar into the group.
The move is seen as a part of Aeffe’s rationalisation and reorganisation process that aims at greater efficiency in the management.
Also, the focus is on coordinating the group’s activities by streamlining the decision-making hierarchy, in addition to leveraging the group’s synergies, so as to minimise taxation, administrative and operational costs.
Back in 2010, Aeffe took complete control of Velmar, after having acquired 75 per cent stake in the company in 2001.
Last year, Aeffe completely acquired Moschino too!
It’s been a good time for Aeffe that returned to profitability in 2021 by posting a net income of € 12.1 million and revenue of € 324.6 million.
Founded in 1983, Velmar is active in apparel production and distribution, and specialises in lingerie, beachwear and homewear.
