Aeffe Seeks a Fresh Start: Riccardo Bagolin Takes the Helm to Lead the Restructuring
The Italian fashion group Aeffe, parent company of the footwear brand Pollini, among others, is navigating a period of financial turmoil that calls for radical measures. It is against this backdrop of urgency that a sweeping reorganization has been launched, marked by the recent appointment of Riccardo Bagolin as CEO. This veteran of the textile industry will have the primary mission of supporting management, while working closely with Stefano Falliti, the current chief restructuring officer.
The choice of this new leader to head operational management was no accident. Riccardo Bagolin has built a solid reputation as an expert in corporate turnarounds within the apparel sector. A specialist in supply chain management and complex crisis management, he had already distinguished himself at Stefanel. As chief operating officer from 2013 to 2021, he successfully orchestrated the brand’s delicate transition into the OVS Group.
The Growing Influence of Oxy Capital
Aeffe’s hiring of Riccardo Bagolin highlights significant strategic synergies that help outline the group’s future structure. In mid-May, Aeffe received a non-binding offer from Oxy Capital, an investment fund specializing in corporate turnarounds. Indeed, the paths of Oxy Capital and the new CEO have repeatedly crossed over the years.
The fund had acquired a 75% stake in Stefanel in 2017, just before the company was sold to OVS. More recently, Oxy Capital expanded its presence in the sector by taking control of the textile printing giant Imprima in 2024. This is a company Riccardo Bagolin knows inside and out, having served as the group’s CEO and head of transformation from 2024 to 2026.
A Tight Timeline to Save a Flagship Brand in Peril
The coming weeks will be decisive for the luxury company’s survival. Weighed down by negative equity of 1.9 million euros, Aeffe has fallen below the legal warning thresholds, prompting government intervention. On June 9, a crucial roundtable discussion is scheduled to take place at the Italian Ministry of Enterprise and Made in Italy to assess the situation.
The immediate challenge is clear: by mid-June, the consortium of industrial and financial partners led by Oxy Capital must seal the deal by submitting a binding offer to acquire virtually all of the assets controlled by Aeffe. If creditors approve this sweeping rescue plan, the agreement is expected to be ratified in October 2026. A true race against the clock is therefore underway to finalize the sale of the group before the end of fiscal year 2026, marking the end of an era and, potentially, the beginning of its rebirth.