Italy's Aeffe signs licence deal with influencer Chiara Ferragni, shares spike

Italian luxury group Aeffe said on Wednesday it had signed a multi-year licensing agreement with influencer Chiara Ferragni for the underwear and beachwear collections of its unit Velmar, sending its shares up 10%.

"The agreement aims to expand globally the brand founded by Chiara Ferragni in the underwear and beachwear fashion segment, leveraging the structure and experience of Velmar," Aeffe said in a statement.

The Fall/Winter 2021-22 collection will be the first collection resulting from the collaboration, available online and in selected shops and department stores, alongside Chiara Ferragni's boutiques.

By 0906 GMT, Aeffe shares were suspended due to excessive volatility after rising 10% in an otherwise flat Milan bourse.