WWDreports that Aeffe SpA plans cutbacks and lower prices to battle the recession. The Italian fashion group - which owns Alberta Ferretti, Moschino, and Pollini - reported a 20% drop in revenues in Q1.
Executive chairman Massimo Ferretti said the group was responding to a "difficult and unique" situation "in a prompt and determined way."
"We are working to reduce the size of collections and shorten sales campaigns," he stated. "Our collections have been designed to offer models with a price positioning and use more in line with the new market trends. We are also reissuing select highly successful vintage collections…and have discontinued some minor lines. Finally, we are weighing options to rationalize our retail channel."
Aeffe also cut jobs last month. Aeffe's Alberta Ferretti brand had a lovely Spring/Summer campaign, which you can see here.
WWD 
