Aeffe names Khoa Nguyen president of US subsidiary

Aeffe names Khoa Nguyen president of US subsidiary

Translated by

Nicola Mira

Italian fashion group AeffeMoschinoJeremy Scott

Khoa Nguyen – Aeffe

US-born Nguyen has been senior vice-president of Aeffe USA since 2017. In his new role as president, Nguyen “will lead the group’s commercial team from its New York headquarters, overseeing the sales and distribution of the collections by Moschino, Alberta FerrettiLorenzo SerafiniPollini

A highly experienced luxury industry executive, Nguyen succeeds Michelle Stein, who has taken care of expanding the Italian group’s business in the USA since it first entered the market 40 years ago. Stein notably spearheaded the Moschino label, which is celebrating its 40th anniversary this year. Her succession had been long agreed upon with Aeffe’s senior management. “We would like to thank Michelle Stein for the outstanding work she has done over the past 40 years. Her charisma, as well as her in-depth knowledge of the fashion retail sector, have certainly contributed to the success of our company in the United States,” said Aeffe’s President Massimo Ferretti, welcoming Nguyen’s promotion.

Nguyen has a master’s degree from ColumbiaJean Paul GaultierBalenciaga

Although it is still small, accounting for only 7% of Aeffe’s total revenue, the US market has grown notably in recent years, offering the group a high-potential commercial opportunity. Aeffe’s US revenue increased by 5.6% at constant exchange rates (and by 14% at current rates) in 2022, generating €24.6 million out of a total revenue of €352 million. Growth was mainly due to Aeffe’s extremely strong performance in the wholesale channel, whose sales jumped by 34.1% in 2022 over 2021.

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