Connect with us

Headlines

Safilo Announces Deal to Sell US Retail Business

The transaction is expected to close in the third quarter.

mm

Published

on

PADUA, ITALY – Safilo Group announced that it has reached an agreement to sell the U.S. retail chain Solstice to Fairway LLC, formed by a group of investors active in the U.S. and in the European eyewear retail business.

Financial terms of the deal were not disclosed.

What’s Really Up with Vision Expo in 2021?
INVISION Podcast

What’s Really Up with Vision Expo in 2021?

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop
INVISION Podcast

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]
INVISION Podcast

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]

The transaction is expected to be completed in the third quarter of 2019.

The sale of Solstice “confirms the group’s efforts to focus on its core wholesale business, and thereby marks a further key step in Safilo’s strategy of recovering a sustainable economic profile,” according to a press release.

Safilo announced in April that it received expressions of interest to purchase its Solstice and planned to proceed with a sale.

Advertisement

Solstice was acquired by Safilo in 2002, when the retailer had six stores. Today it has 73 stores, of which 28 are outlets.

Safilo makes sunglasses, optical frames, sports eyewear and other products. It has subsidiaries in 40 countries, along with more than 50 distribution partners in key markets.

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected].

SPONSORED VIDEO

SPONSORED BY WEAVE

Transform Your Multi-office Phone System Into a Revenue-generation Tool

Weave’s multi-office, multi-department, and multi-provider phone system is built to flexibly accommodate and augment your practices’ most powerful revenue-generation tool: ring phones across multiple locations, set up inter-office call overflow, support external call centers, and more. And by connecting to your patient data, call handlers see a patient’s upcoming appointments, overdue balances, overdue family members, and preferred location – all when they pick up the phone." Learn more at getweave.com/weave-unify

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular