Connect with us

Headlines

Safilo Plans to Sell Retail Chain

A deal is likely to be completed this year.

mm

Published

on

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.

Advertisement

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.

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

Advertisement

SPONSORED VIDEO

SPONSORED BY TOPCON HEALTHCARE

With Topcon RDx® Now You Can

Introducing Topcon RDx®, a comprehensive eye health exam platform that incorporates automated and remote capabilities for your diagnostic instruments. Grow your practice beyond your physical location and deliver quality eye exams from virtually anywhere.

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

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

Advertisement

Most Popular