Headlines

Safilo Plans to Sell Retail Chain

A deal is likely to be completed this year.

Published

6 years ago

April 2, 2019

PADUA, ITALY – Safilo Group announced that it has received expressions of interest to purchase its Solstice sunglass retail business in the U.S.

Selling Solstice would be an alternative to the current turnaround plan, the company stated, adding that it “has decided to proceed with the option to sell the relevant Solstice assets to a third party.”

Safilo said it’s “probable” that a sale will be completed this year.

Any sale would be subject to customary conditions, including “the positive outcome of a due diligence process currently under way,” according to the company.

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.

Safilo’s core brands are Carrera, Polaroid, Smith, Safilo and Oxydo.

Its licensed brands include Dior, Dior Homme, Fendi, Banana Republic, BOSS, Elie Saab, Fossil, Givenchy, havaianas, HUGO, Jimmy Choo, Juicy Couture, kate spade new york, Liz Claiborne, Love Moschino, Marc Jacobs, Max Mara, Max&Co., Moschino, Pierre Cardin, rag&bone, Rebecca Minkoff, Saks Fifth Avenue, Swatch and Tommy Hilfiger.

INVISION Staff

Since launching in 2014, INVISION has won 31 international journalism awards for its publication and website, including the prestigious Neal Award for Best Single Issue in 2019. In 2024, the publication celebrates its 10th anniversary of serving eyecare professionals. Contact INVISION's editors at editor@invisionmag.com.

click to Comment(Comment)

Up Next

Eyewear Retailers Lose Over $26B Due to Poor-Fitting Frames, Study Finds

Don't Miss

This Contact Lens Could Ward Off Eye Itch

With Crizal you can have it all!

Patients expect clarity of vision, scratch resistance, anti-glare technology, easy-to-clean lenses, and UV protection from their lenses. Crizal Sapphire HR is the latest generation of anti-reflective coating that combines our innovative technologies, 360 Multi-angular Technology™, High-Resistance Technology™, High Surface Density Process™ into one coating to deliver best in class performance. Your patients’ main concerns of anti-glare, scratch resistance, and easiness to clean are covered. Crizal Sapphire HR shield the lenses against reflections, scratching, smudging and UV light for long-lasting transparency, durability, and protection. Crizal coatings can be applied to any design, including traditional single vision, Eyezen®, Eyezen+ and Varilux®! Widely available across lab networks and through all major managed vision care providers today. Crizal Saphire HR benefits include: • 360 Multi-angular Technology™ that cuts front and lateral backside reflection • High-Resistance Technology™ that offers the best combination of scratch and smudge resistance • High Surface Density Process™ that ensures the lense is easy-to-clean, smudge resistant and water repellent For more information about Crizal Saphire HR, go here.