After years of breakneck expansion, retailers in China are scaling back and delaying their growth plans as the maturing market enters a new phase of consolidation fueled by slowing demand and fierce competition.
Italy eyewear company Safilo SpA's talks with private equity funds on taking a stake in the company could slip beyond the end-June target for completion, a source close to the talks said on Friday 22 May.
Italian eyewear maker Safilo's main shareholder is continuing talks with, mainly, four private equity funds and a deal is hoped for before end-June, chief executive Roberto Vedovotto said on Monday 27 April.
Italy's Safilo is laying off workers and cutting production facilities, worrying the government as unemployment soars, and extra cash is looking like an urgent priority for the maker of Gucci sunglasses.
Italian eyewear maker Safilo SpA's main shareholder said it was in talks with potential investors and could dilute its stake in the company, boosting Safilo shares on hopes of a cash injection.Only 3T, which has 39.