In the first nine months of 2020, Aeffe, the Italian fashion house that owns Pollini and other brands, suffered in its footwear and leathergoods division a decline in sales of 15.4 percent, both on a reported basis and in constant currencies, to €81.9 million because of the Covid-19 pandemic.

The division’s Ebitda, adjusted for the write-down of the inventory of raw materials, dropped to €6.3 million from €12.7 million a year earlier. On a reported basis, Ebitda stood at €2.3 million.

For the group as a whole, nine-month sales fell by 23.2 percent to €206.8 million.

Adjusted Ebitda contracted to €12.2 million from €46.1 million, and the adjusted net loss was €7.4 million against a €13.2 million profit a year earlier. On a reported basis, Ebitda reached €8.2 million and the net loss €12.5 million.

Aeffe highlighted that in the third quarter it registered a “good recovery” in revenues, mainly as the result of shipments of the autumn/winter collections that had been postponed beyond the second quarter because of the difficult business environment and Covid-19 related lockdowns. The company added that it has also reached its objective of keeping returns and discounts to below 10 percent of the orders originally collected. 

The company pointed out that orders for the spring/summer 2021 collections are down from a year earlier but above expectations.