News Sector Group has just signed a licence agreement to produce watches bearing the Moschino logo. The first collection, spring-summer 2003, will be unveiled at the next International Watch and Jewellery Exhibition.
The agreement is set to run for five-year period, during which it is hoped to achieve point-of-sale turnover of around 150 million euros, with investment in communication totalling some 10 million euros.
Launched in 1983, the Moschino brand is today present across the globe with a network of 24 single-brand stores and 31 outlets within the most prestigious department stores. Aeffe SpA has a 70 % holding in Moschino SpA, with the remaining 30 % held by Sportswear International. In 2001, the company posted a global turnover (direct and induced) of 285 million euros, achieved with the Moschino and Cheap & Chic clothing lines, as well as with collections of accessories (bags, scarves, glasses, umbrellas and perfumes).
Acquired nearly a year ago by the Opera investment company, consisting of independent professionals and the Bulgari group, Sector Group is a leading player in the Italian watch sector with a market share of around 14 %. With a network of 15 production partners and 50 distributors worldwide, six business headquarters, 150 employees and a turnover in 2001 of approximately 90 million euros, it is present in the market with well-known brands such as Sector, Philip Watch and the licensed Roberto Cavalli line of watches. The other brands of the Sector Group are Invicta, Mode, Chronostar and Lucien Rochat, not to mention the forthcoming line of watches from the PZero Tempo company (Pirelli licence), the launch of which is planned for the end of the year.
September 12, 2002