Euroitalia has snapped up Moschino’s beauty business rights from Italian fashion group Aeffe for €98m.
The beauty distributor and manufacturer’s deal relates to all of Moschino's cosmetics, fragrances, scented candles and textile perfumes.
Euroitalia has held the exclusive Moschino fragrance licence since 1987, creating the brand’s Cheap & Chic, Glamourous Fruity Floral, Toy 2 and Gold Fresh Couture perfumes.
Euroitalia has paid Aeffe Group €39.6m of the deal consideration, with the remainder due on 29 November.
"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," said Massimo Ferretti, President of Aeffe Group.
"This transaction marks a further step in our collaboration, which I believe will bring great benefits to both parties.
“I am firmly convinced that Euroitalia, with its range of products, will play a leading role in the process of further evolution and growth of the Moschino brand."
Aeffe Group said the transaction would bring an injection of liquidity which will be used to decrease the group’s net financial position, “pushing forward a positive impact on its income statement”.
It will also bolster the expansion process of its brands, Aeffe added in the statement.
Giovanni Sgariboldi, founder and President of Euroitalia, said: “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.
“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."
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