Safilo sales slip as brand losses bite
Author: Simon Jones
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%.