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.

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