Safilo feels effect of downturn

Despite total sales volumes experiencing slight growth, Safilo has registered a net loss of €6.7m during the third quarter of 2008, compared to a profit of €5.4m during the same period in 2007.

In approving the third quarter results, the company's board of directors revealed that all of Safilo's main markets had been influenced by 'consumers' overall caution'. The statement also disclosed that consumers had demonstrated 'a tendency, especially with regards to sunglasses, to limit purchases and favour products belonging to a more competitive price range'.

Safilo claimed that this had resulted in a contraction of the high-end sunglass market and consequently a limitation of the orders for new products placed by opticians, department stores and purchase chains.