MILAN — Aeffe SpA kicked off its initial public offering today, seeking to jump-start international expansion across several of its luxury brands.
The Aeffe offer ends a dry spell of several years for fashion IPOs in Italy and may serve as an industry bellwether, gauging investors’ appetites for luxury goods and fashion ahead of more potential IPOs. Several companies, including Prada SpA, Gianni Versace SpA and Salvatore Ferragamo SpA are contemplating going public. Jeweler Damiani SpA is next in line to list in Milan. It is waiting for the green light from Italian stock market regulator Consob.
Aeffe is selling as much as 37.26 percent of its capital in the IPO, which runs through July 18. The offer price range gives the company a theoretical market capitalization between 440.23 million euros, or $599.42 million at current exchange, and 579.82 million euros, or $789.48 million.
Company chairman Massimo Ferretti said Monday that Aeffe will use the funds generated to fuel future growth, especially in areas such as accessories and beauty. Ferretti and his sister, designer Alberta Ferretti, control 100 percent of the company, which owns the Alberta Ferretti, Moschino and Pollini labels. Aeffe also manufactures and distributes collections for Jean Paul Gaultier through a licensing pact.
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