Italian fashion designer Alberta Ferretti’s company, Aeffe, is acquiring the remaining 30 percent of Moschino it does not already own for $77 million.
The company is buying the shares from Sinv, a supplier that specializes in producing diffusion lines for various designer and luxury brands.
Aeffe’s move to gain full control of Moschino comes as the brand’s sales have remained resilient during the pandemic. The company recorded $256 million in revenue last year, which was $16 million lower than its 5-year average.
The deal includes an “anti-embarrassment” clause, which requires Aeffe to compensate Sinv, if it decides to sell the acquired shares at a higher value in the next 24 months, Business of Fashion reported.