For 98 million euros ($110 million), the Italian fashion business Aeffe has decided to give Europe ownership of its “Moschino” trademark in connection with a variety of goods, including cosmetics and perfumes. The announcement was made on Thursday.
Since 1987, Euroitalia has been producing the Moschino fragrances and holds the sole license for the other trademarks in the portfolio.
Aeffe, which is having difficulty boosting sales and profitability, claimed that the agreement will enable the company to lower its debt and finance the growth of its brands.
Aeffe President Massimo Ferretti expressed his belief that the agreement will be advantageous to both parties.
“I am firmly convinced that Europe, with its range of products, will play a leading role in the process of further evolution and growth of the Moschino brand,” Ferretti stated.
