Fragrance and cosmetics giant Euroitalia has reached an agreement with Italian luxury group Aeffe to transfer ownership of the Moschino brand. The deal covers Moschino’s cosmetics and perfumes, scented candles, room scents and textile perfumes for €98 million (US$108.5 million).
Aeffe and Euroitalia have 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,” says Aeffe.
These fragrances include some of the brand’s bestsellers such as Moschino by Moschino, which gained popularity in 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.
“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 will bring great benefits to both parties. Euroitalia, with its range of products, will play a leading role in the process of further evolution and growth of the Moschino brand.”
Euroitalia was previously the exclusive licensee of the brands in the portfolio. It paid Aeffe a portion of the consideration equal to €39,557,723 (US$43,796,135). The remaining portion will be paid on November 29.
“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,” states Giovanni Sgariboldi, founder and president of Euroitalia.
“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 other luxury fragrance news, Balmain recently debuted its first beauty line, “Les Éternels de Balmain,” a collection of eight “all-gender” eaux de parfum. Under Olivier Rousteing’s creative direction and in keeping with the fashion house’s strong ties to French heritage and modern design, the collection takes inspiration from Rousteing’s modern influence and Pierre Balmain’s legacy.
