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COMPANY

                                MAVIVE















                        IMPORTANT DEVELOPMENTS FOR THE

                     VENICE-BASED COMPANY INCREASINGLY

                 APPRECIATED ON INTERNATIONAL MARKETS



                                                                               International developments

                                                                               In Great britain, Fragrance Factory Ltd (FFL), one of
                                                                               the  main  distributors  of  fragrances  and  skincare,
                                                                               closed at the end of 2023, followed by the creation
                                                                               of Vidal Fragrances Limited (VFL).
                                                                               This new company has expanded its presence
                                                                               on  the  strategic  UK  market  with  a  long-term
                                                                               investment  plan  in  developing  existing  and  new
                                                                               brands in the next five years. Sales and Marketing
                                                                               Manager of FFL, Elizabeth Ross, has been appointed
                                                                               Managing Director of VFL.
                                                                               On  the  licence  front,  Mavive  has  signed  a  global
                                                                               licencing agreement with bMW for the development,
                                                                               production  and distribution  at worldwide level of
                                                                               the  first  line  of  BMW  fragrances.  At  the  centre  of
                                                                               the partnership, there is the DNA of bMW, a brand
                                                                               based  on  a  “human-centric”  vision,  which  defines
                                                                               its  horizons  creating  an  optimistic  vision  for  the
           Marco Vidal, CEO Mavive SpA and The Merchant of Venice srl          future. In line with the strategy of positioning of
                                                                               BMW  Lifestyle,  the  fragrances  represent  the  first
                             leadership transition                             entry of the brand in the beauty sector.

                             This year the springtime brought with it a new    In the first half of 2024, Police To Be My Avatar a new
                             leadership transition for Mavive, the fragrance   edition  of  the  iconic  skull  line  which  is  the  first  to
                             company based in Venice. At its board of Directors   enter the metaverse, was launched.
                             meeting on 28 March, Marco Vidal was appointed    2024  was also the year of ALPS  (Alps Life Pure
                             the new CEO. He has been instrumental in          Sensations), the new proprietary brand of the
                             steering the company through challenging times,   company, which  in  May  featured  in  an  exclsuive
                             in particular the pandemic, and has played a      press event in Cortina to offer a holistic experience
                             pivotal role in setting the company on a course of   of well-being based on neuroscience in one of the
                             substantial growth.                               most famous Alpine resorts.
                             Massimo Vidal continues as President, ensuring    The other brands of the company have also been the
                             that Mavive remains committed to its core values   subject of new launches (Furla with Armoniosa, The
                             and vision for sustainable and respectful growth.   Merchant of Venice with Moscado) and consolidation
                             The new Managing Director is Marcello Mengarelli,   of the existing lines on the markets. At the level of
                             who continues to lead the International Sales     turnover, all the brands are performing very well,
                             Management team. His exceptional management       both at the level of sell-in and of sell-out.
                             skills  and  dedication  have  significantly  enhanced   A new important licence is also scheduled to arrive
                             the Mavive presence on international markets.     in the second half of the year.

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