Safilo, the Italian frame manufacturer, has gone into partnership with Tokyo-based frame and sunglass manufacturer Sunreeve and has established a subsidiary to make and distribute spectacles in Japan. The deal aims to provide frames with special fittings for the facial features of people of Far Eastern origin.
The new company, Safilo Japan, will begin distributing Gucci, Gianfranco Ferre and MaxMara products in the Far East in August. Sunreeve president Miyoji Shinagawa has been appointed president of the subsidiary. Both directors (pictured above) predicted turnover for the new company in its first year to reach 42bn lire (&\#163;14bn). Safilo's turnover for the first quarter of 1998 has improved by 20 per cent compared to 1997 and operating profits for the first quarter were 32bn lire, up 60 per cent. In this period the company sold four million frames.
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