Safilo in plant sales talks with LVMH

Safilo confirmed it was in advanced negotiations with LVMH’s Thelios brand to sell its Longarone plant. 

The decision to sell the plant, based in the northeastern Italian town, is said ‘to preserve the plant’s know-how and to retain a significant number of its employees’. 

The company said: ‘Safilo informs that this important transaction is part of a wider context of ongoing negotiations, through which the Company aims to limit the social impact of this intervention.’ 

This follows reports that Safilo were looking for potential buyers due to overcapacity, according to Reuters.