Euroitalia has purchased the cosmetics, perfumes, scented candles, and fragrances for rooms and textiles license for the Moschino brand from Aeffe for 98 million euros, or $110 million.
This builds Euroitalia's stable of licenses, including Versace and Michael Kors.
Upon completion of the deal, Euroitalia has already paid an initial 39.6 million euros. The remaining portion will be paid on November 29, 2024.
Euroitalia has been manufacturing Moschino fragrances since 1987, including Moschino by Moschino, Cheap & Chic by Moschino, Glamourous Fruity Floral, Toy 2, Gold Fresh Couture and Pearl.
"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," says 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," says 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."
