Safilo Says ‘Ciao’ to Chiara
Safilo and Chiara Ferragni, entrepreneur and global fashion icon, have signed a global multi-year licensing agreement for the design, manufacture and distribution of the first Chiara Ferragni branded eyewear collection. The full eyewear range – both optical and sun – will be launched in January 2022. The agreement with Ferragni, marking her namesake brand’s entry into eyewear licensing, supports Safilo’s digital transformation and active engagement strategy to address new generations through new languages and channels that reflect the new digital economy. safilo.com
Retail Sales Up Despite Challenges
Retail sales increased in August as consumer demand outweighed the pandemic, supply chain disruptions and other factors, the National Retail Federation reported. NRF’s calculation – which excludes automobiles, gas and restaurants – showed August was up 2.3% seasonally adjusted from July and up 12% unadjusted year-over-year. NRF’s numbers were up 11.4% unadjusted year-over-year on a three-month moving average. “In spite of the ongoing challenges … the retail industry continues to do what it does best – serve customers and support communities,” NRF president and CEO Matthew Shay said. nrf.com
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Warby Parker Files IPO
Warby Parker has listed its shares to the public through a direct listing on the New York Stock Exchange under the symbol “WRBY.” Registered shareholders of Warby Parker offered 77.7 million Class A shares at the end of September for an estimated $190 million in net proceeds. Previously, Warby raised a total of $535.5 million in fundraising over nine rounds, the most recent being $120 million raised in August 2020. Revenues for the first half of 2021 were $270.5 million, up 53% year-over-year, with a net loss of $7.3 million. Warby recorded a $356.3 million accumulated deficit. Analysts said it may take some time to achieve profitability but given its diverse portfolio, Warby should benefit from the growing global eyeglasses industry trend. warbyparker.com
