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The publicly listed Safilo, which in July confirmed the Dior license expiration and has been restructuring its pool of production and distribution agreements following the early termination of its Gucci license, has been eyeing a younger consumer.
11.Īs reported last month, in the first nine months of the year, Safilo sales from continuing operations were up 5.2 percent to 708.7 million euros.
The effects of the acquisition will be reflected in the new business plan that Safilo will disclose to the market on Dec. The loan was approved by Safilo’s board on Dec. The acquisition will be financed through available cash and credit facilities, and through a loan provided by Safilo’s main shareholder, Multibrands Italy B.V., controlled by HAL Holding N.V, for an amount of 30 million euros.
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“Blenders’ skills in attracting Millennial and Generation Z customers are formidable.” Altman said the company has “an unparalleled grip on its targeted demographics, and expertly knows how to communicate with them to build sustainable, lifetime value.” He gave a thumbs-up to the deal, saying Safilo “is the perfect home” for Blenders. Blenders is no exception, as it has been disrupting the eyewear industry with its authentic and highly branded product offering,” said Paul Altman, managing director and partner of independent investment bank The Sage Group. “Investors and buyers are looking for the growth and capabilities that these innovative companies bring to the table. Following the agreement with Safilo, the 30 percent remaining stake will be subject to customary reciprocal put and call options which can be exercised starting from 2023. We’re on a mission to build a thriving global community that inspires people to live in forward motion.”īlenders will continue to be run out of San Diego. Safilo’s product know-how and global distribution capabilities are the perfect complement to our digitally native business model, opening up worldwide expansion potential. and then outside that market.”įisher, who retains his 30 percent stake in the company and will continue to hold his ceo role, said the sale “marks a huge step forward for Blenders and we’re excited to be part of Safilo to reach a wider marketplace. There is so much growth potential still in the U.S. “We will support them with logistics, finance and product development, which are our strengths. Trocchia underscored that Safilo will “not touch Blenders’ DNA,” so the brand’s eyewear will not be produced in Italy. In meeting Fisher, the executive realized there was “empathy that went beyond the figures, I liked his young and dynamic spirit.” In addition, he was impressed by how Fisher and his team “monitor their activities, their decisions are data-driven.” “They did not learn to use it, they were born with it, it’s different, it’s an asset, they live and breathe digital,” Trocchia mused. He touted Blenders’ user-friendly platforms and the founder and his team’s ease with the digital tool. Online sales now account for around 3 or 4 percent of revenues. To be able to change and strengthen the relation with clients and customers is an incredible value.” Safilo counts around 90,000 clients.
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In an interview at Safilo’s Milan showroom, Trocchia said he was “convinced digital is a strategic dimension, it’s an enabler that will allow us to change skin and take a big leap in terms of digital capabilities. Blenders is entrenched in today’s social sphere and is experiencing significant social media success.” “A strong proposition rooted in a rapid expansion of brand awareness among its natural, fast-growing customer audience of Millennials and Generation Z. “Blenders is a disruptive, digitally native business model, founded on the principle of providing high-quality lifestyle and active eyewear, at affordable prices and with engaging brand content,” Trocchia observed. Safilo aims to accelerate its e-commerce and omnichannel business, leveraging Blenders’s digital expertise and fueling the global expansion of the brand through the Italian company’s platform. Carla Fendi Foundation Supports New Science Gateway at CERNĪngelo Trocchia, Safilo’s chief executive officer, called Blenders Eyewear “inspiring” and “a fast-growing e-commerce-powered business at the forefront of the latest direct-to-consumer and omnichannel capabilities, which will enrich our proprietary portfolio with new strong skills and a particular focus on our key U.S.
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