Connect with us

Headlines

Safilo’s $150M-Earning Dior License Will Soon End

The company also closed on its Solstice acquisition.

Published

on

Safilo Group S.p.A announced that its license agreement for the Dior and Dior Homme collections of sunglasses and optical frames will end on Dec. 31, 2020.

In fiscal 2018, the Dior license accounted for roughly 13% of Safilo total sales, Safilo said in a press release.

That amounts to nearly $150 million based on Safilo’s 2018 revenue of $1.1 billion, The Fashion Law noted.

Safilo has been creating, producing and selling Christian Dior eyewear for over 20 years. It has sold more than 30 million pieces of Dior eyewear over that period, according to the release.

Reuters reported that Dior’s parent company, Moët Hennessy Louis Vuitton, is expected to place the license with its Marcolin joint venure.

Meanwhile, Safilo also announced that it had closed on the previously announced deal to sell U.S. retail chain Solstice to Fairway LLC.

Advertisement

Safilo CEO Angelo Trocchia said:

During two decades of the Dior eyewear license, Safilo has created collections that have made history in the eyewear sector. Our Company has 85 years of expertise, with a commitment to and passion for the industry which we are proud of. To build an even stronger Safilo for the future we are ready to continue leveraging on our human capital and the solid foundations of our attractive and balanced license portfolio, as well as our proprietary brands which are growing in line with our plan. We will fully focus on our unique creativity, technology skills and people to expand even further our brand portfolio, already enriched with the renewals of key brands such as kate spade new york, Tommy Hilfiger, havaianas, and Fossil, among others, and with the recently signed license agreements with Levi’s, Missoni, and David Beckham.

We remain fully committed to our 2020 Group Business Plan, aiming to reignite sales growth focusing on key geographies, brands and channels while recovering operating performance enabled by our cost reduction program. We are on track with our goals and will further accelerate our journey towards restoring an adequate and sustainable level of profitability by 2020 which will enable us to effectively manage this license exit.

Safilo said it will present a new group business plan by the end of 2019.

Advertisement

SPONSORED VIDEO

SPONSORED BY KENMARK

Jump In — the Water’s Fine!

With a salute to summer’s shimmery, mermaid colors and warm weather-loving shades, Kenmark Eyewear celebrates this summer’s Aloha spirit with eyewear from Vera Wang, Kensie, Zac Posen and the Original Penguin Collection!

Promoted Headlines

Headlines

Burglary at Optometry Office Is Seventh in 2 Months

The front door lock was broken.

mm

Published

on

The burglary of an optometry office in San Diego County, CA, marks the seventh such crime in the region since July.

The latest break-in occurred at an office in Mira Mesa, NBC 7 San Diego reports. The article doesn’t identify the practice, but in an accompanying photo, the sign says “Dr. Satnick.”

Police were called to the scene overnight Wednesday. It wasn’t clear right away how much merchandise was stolen.

The Times of San Diego reports that the front door lock was broken.

Advertisement

Authorities haven’t said whether the burglary might be connected to six other recent incidents, NBC 7 San Diego reports. No arrests have been made.

In August, burglars hit three optometry offices in San Diego County in a three-hour period.

Read more at NBC 7 San Diego

Continue Reading

Headlines

10-Location Eyecare Group Is First to Join Medical Optometry America

The group has 29 optometrists.

mm

Published

on

BLUE BELL, PA, and ASHBURN, VA — Medical Optometry America has signed an agreement with Associates in Eyecare – Optometrists, which will become first group of independent optometric practices to adopt the Medical Optometry America.

Associates in Eyecare – Optometrists has 29 optometrist working in the Northern Virginia and Washington, DC, areas.

“Many of us have known for some time that medical eye care is the future of our profession” said Robert Allen, OD, who serves as CEO of AIE, “and the state-of-the-art MOA System will allow our practices, and thousands more around the country, to accelerate this necessary advancement.”

Ken Krieg, CEO of Medical Optometry America, said, “MOA will provide independent optometrists the ability to participate in building a brand and practice management system that stands for exceptional medical eye care and inspires consumer confidence and demand for those services. In addition, optometry practices that choose to remain independent will now have viable marketing muscle to stay competitive in a fast-changing market.”

The foundation of the Medical Optometry System “is the creation of an education platform that facilitates the adoption of best practice protocols,” according to a press release.

Allen added, “We’re excited to be the flagship practice for MOA. No doubt the total MOA System will position us for the future and enable us to lead the transformation of our profession.”

Continue Reading

Headlines

Vision Care Company to Add 8 Centers Across US

The practices are in California, Florida, Michigan and Texas.

mm

Published

on

Treehouse Eyes, a company specializing in myopia care for children, has added 8 location in four states.

The practices are in California, Florida, Michigan and Texas, Healio.com reports.

The company’s original two locations are located in the Washington, DC-area communities of Bethesda and Tysons Corner, according to its website.

Healio.com quoted Gary Gerber, OD, co-founder of the company, saying, “By partnering with carefully vetted practices that meet certain predetermined requirements, we will rapidly accelerate myopia management within those practices and will continue our growth across the country and are currently lining up partners outside the U.S.”

Gerber said 20 more practices will be added to the U.S. network in 2020.

Read more at the Healio.com

Continue Reading

Advertisement

Advertisement

Subscribe


BULLETINS

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

Advertisement

Most Popular