Safilo sales slip as brand losses bite

Frames Business
Company reveals that 2016 sales volumes have dipped slightly

Safilo has revealed that 2016 sales volumes have dipped slightly as a result of the negative impact of the brands the group stopped servicing.

At current exchange rates, the results showed a 2% decline compared to 2016. The company expected sales to reach €1.26bn for the year, contracting compared to the €1.28bn recorded in 2015.

In December 2016, its licencing agreement with Gucci was terminated and transitioned to Kering. Gucci eyewear was estimated to have represented at much as 15% of Safilo’s revenues.

However, Safilo highlighted sales of its ‘going forward’ brand portfolio increased by 3.6%.

Register now to continue reading

Thank you for visiting Optician Online. Register now to access up to 10 news and opinion articles a month.


Already have an account? Sign in here