
Few luxury sectors are in a greater stage of flux than eyewear, where luxury giants like Kering and LVMH have both radically redrawn the business model. Meet Rosario Toscano – who just launched Balmain eyewear.
160 published items with the word (s) or phrase Safilo in News, Trends, Videos, Photo galleries, Agenda and sorted by "date descending".
Few luxury sectors are in a greater stage of flux than eyewear, where luxury giants like Kering and LVMH have both radically redrawn the business model. Meet Rosario Toscano – who just launched Balmain eyewear.
Italian spectacles maker Safilo reported a steep decline in first-quarter sales on Wednesday as the coronavirus prompted the temporary closure of most of its stores.
Italian eyewear giant Safilo has withdrawn the guidance it issued just a few months ago and said that first-quarter sales were down in double-digits due to the accelerating coronavirus pandemic.
Italian eyewear maker Safilo said on Wednesday that 2020 had started well and, at this stage, the impact on the business of the coronavirus outbreak was negligible.
In 2019, the eyewear group's revenue rose by 3.1%, as APAC’s increased by 23.1% and the wholesale channel grew in line with forecasts. But Q4 was weak, due to an expected slowdown in Europe after the Kering deal.
Italian eyewear maker Safilo said on Wednesday it expected the loss of licences with luxury LVMH brands to wipe 200 million euros off its annual sales, sending its shares plunging almost 22 percent.
The company set up from scratch in 2014 by luxury group Kering, the industry’s first to internalise its eyewear business, is about to top the €500 million revenue mark, and says it isn’t interested in Safilo.
Hugo Boss has agreed to renew its license agreement with Safilo until the end of 2025. The loss-making Italian eyewear maker lost the Dior license, one of its most lucrative deals, earlier this year.
After losing the profitable Gucci licence in 2017, the Italian eyewear group has announced the end of the long-standing deal with Dior, whose licence will go to Thélios, the company set up by LVMH and Marcolin.
The Italian eyewear company and Kate Spade New York have renewed their global licensing agreement for the exclusive design, manufacturing and worldwide distribution of Kate Spade eyewear.