Aeffe: binding offer of 115 million euros for relaunch and safeguarding of jobs

A new meeting on the Aeffe dispute was held yesterday in Rome at Mimit. During the meeting, it was announced that the Ferretti family, the group's current owner, has submitted a binding offer for the company's relaunch. The offer was made together with Invitalia, the Oxy Fund and a Chinese industrial partner.

The transaction, valued at approximately 115 million euros (132.4 million dollars), includes maintaining and enhancing the group's historic brands; ensuring the continuity of industrial activities; and safeguarding employment levels.

Next meeting at Mimit scheduled for September 28

The proposal also includes granting an exclusive license for the Moschino brand in the Chinese market to the industrial partner. This aims to consolidate the brand's presence and promote its commercial expansion in the country.

The transaction is expected to be completed by the end of the year, once ongoing due diligence is finished and contractual agreements are finalised.

The next meeting at Mimit is scheduled for September 28, during which the proponents will present the business plan.

Offer supported by a detailed industrial project

Aeffe explained in a statement that the offer involves the acquisition of substantially all of the group's business assets by a newly formed company. This new entity will be owned by Oxy and a pool of co-investors. Concurrently with the completion of the acquisition, the acquiring company will be demerged into three new, operational and independent companies. Each company will be dedicated to developing the Moschino brand; the Alberta Ferretti brand; and the production activities in San Giovanni in Marignano and the Pollini business, respectively.

The offer aims to ensure business continuity, albeit indirectly. It is supported by a detailed business plan that includes relaunching the group's brands. The management explained in the statement that this will be achieved “through a plan to strengthen industrial and commercial activities, operational efficiency measures and initiatives aimed at enhancing the group's expertise in its respective target markets”.

Company to be debt-free upon completion of transaction

The offer includes the sale of the business assets in exchange for a cash payment to Aeffe and Pollini spa. The buyer will also assume some of the group's liabilities, which will be restructured through a crisis resolution tool. This aims to rebalance the group's financial situation and create the conditions for implementing the business relaunch plan. Upon completion of the transaction, the company would be debt-free and substantially without assets.

Oxy's co-investors include a publicly listed industrial investor in China. Oxy may also be joined by other industrial and financial partners. The statement specifies: “The offer also provides for the possible intervention of the Business Safeguard Fund managed by Invitalia (Invitalia), to be requested by the Company in agreement with Oxy. This would support the turnaround process, the relaunch of historic Italian brands and the protection of the luxury textile supply chain. The transaction also considers the potential involvement of illimity Banca Ifis (illimity) to provide the so-called ‘plan financing’.”

Oxy's offer is binding, although it is subject to certain conditions precedent. These include confirming the involvement of Illimity and Invitalia. It also requires reaching necessary agreements with the credit institutions involved in the liability assumption and with the relevant trade union representatives regarding employment management, particularly the activation of social safety nets.

Aeffe's board of directors has reviewed Oxy's offer. It has acknowledged it favourably as a significant step in the ongoing recovery process and has resolved to proceed. The board will act with the support of its advisors and in coordination with Riccardo Ranalli, the expert appointed for the negotiated crisis settlement. All necessary activities for its implementation will be initiated to best protect the interests of the company, the group, creditors and all stakeholders involved.

The management added that “activities aimed at defining the final structure of the transaction and the related crisis resolution tool will continue in the coming weeks. This will be done in compliance with the timelines required by the negotiated crisis settlement and for obtaining the necessary authorisations”.

Aeffe also reports that a hearing was held before the Court of Bologna on July 15, 2026. The hearing concerned the granting or extension of selective precautionary measures to protect the assets of the company and Pollini spa from possible individual enforcement and precautionary actions by certain company creditors. The judge has reserved her decision pending a further hearing scheduled for September 9, 2026.