Latest news with #AngeloTrocchia
Yahoo
02-08-2025
- Business
- Yahoo
Safilo's Net Profit, Sales Rise in the H1, Helped by Asia-Pacific and Tariff Offsetting Measures
MILAN — Helped by a strong performance in Asia-Pacific, Safilo grew in the first half of the year with an improvement in profits and margins. The Padua, Italy-based eyewear group continues to hold strong while it navigates macroeconomic challenges, a weaker U.S. dollar and evolving tariff negotiations, its chief executive officer Angelo Trocchia said during a conference call with analysts on Thursday. Revenues in the six-month period ended June 30 rose 2.3 percent to 537.6 million euros from 532 million euros in the same period of 2024, helped by performance in Asia-Pacific. Adjusted net profit rose to 33.7 million euros compared to 24.2 million euros recorded in the first half of last year. More from WWD Western Craze Helps Boot Barn Kick Off Fiscal 2026 on a High Note as Firm Raises Full-Year Outlook Shoe Firms Producing in Mexico Get 90-Day Tariff Extension Tariff Headwinds Are Getting Real for Shoe Firms - And It's Just the Beginning 'In all our regions, momentum continued to be strong for our contemporary and lifestyle brands, with Carrera, David Beckham, Tommy Hilfiger, Boss, Carolina Herrera and Marc Jacobs standing out also in the second quarter,' Trocchia said adding that North America performance was helped by sport and prescription eyewear. In the first half, Safilo's gross margin rose to 61.1 percent from 60 percent in the same period of 2024. Adjusted earnings before interest, taxes, depreciation and amortization margin rose to 11.6 percent from 10.8 percent a year earlier. Despite the improvement in its margins and bottom line, sales momentum in the first-quarter worldwide slowed in the second quarter. Overall, sales amounted to 251.9 million euros versus 254.8 million euros, compared to the same period of 2024. The North American market, its second largest by sales, was down 1.1 percent to 102.1 million euros, impacted by the weakening of the U.S. dollar against the euro, which dampened an otherwise positive performance. The rest of the world category plunged 14.9 percent to 19.8 million euros, but the Asia-Pacific market offset losses, surging 8.2 percent in the same period to 15.7 million euros. The European market, its top market by sales, inched up 0.4 percent to 114.2 million euros, driven by revenue in France in the second quarter. Sales performance in Europe was also marginally impacted by the disposal of the subsidiary Lenti Srl in June. In the first half, U.S. President Donald Trump's tariffs and trade policies spurred the acceleration of Safilo's supply chain diversification, and selective price adjustments in the U.S. In May, the firm said it also continued to source from South East Asia to reduce the company's reliance on China with the goal to bring China-sourced production below 40 percent within the next 12 months. Additionally, the firm said it was evaluating an expansion of its U.S. manufacturing footprint with a potential increase in capacity at its facility in Utah. During the conference at the end of trading in Milan, Trocchia expressed confidence in the potential of its renewal of Carolina Herrera license for the next five years and its recent share buyback program. As of June 30, Safilo had purchased around 438,000 Safilo Group ordinary shares, equal to about 0.11 percent of the outstanding shares. He was also positive on the addition of Victoria Beckham to its portfolio, further enhancing its women's offering and strengthening its positioning in the aspirational, entry-to-luxury segment. In response to further mitigation measures in response to tariffs, Trocchia said further measures weren't necessary. 'We don't see the need to do other activities or take further actions on price increases. We've been very careful in executing this as it stands today. That's it. We don't see a need for further action on pricing,' he said. In the first half of 2025, cash flow from operating activities reached 40.7 million euros, marking a significant increase compared to 27.3 million euros in the same period of 2024. This improvement was helped by tight control over stock levels supported by the group's strategic decision in the second quarter to limit imports from China. For the rest of 2025, Trocchia said that the priority remains the North American and European markets and said the company is mulling new opportunities, especially in Asia and within optical, sport and women categories. 'M&A is a priority…if at a certain point we come to the conclusion that there is no M&A at the price or multiple that is right, then we can do [execute] different capital allocations. Let's see what will happen in the second quarter on the M&A side,' he said. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
01-07-2025
- Business
- Yahoo
SAFILO GROUP AND VICTORIA BECKHAM ANNOUNCE A TEN-YEAR GLOBAL LICENSING AGREEMENT FOR EYEWEAR COLLECTIONS
PADUA, Italy and LONDON, July 1, 2025 /PRNewswire/ -- Safilo Group – one of the eyewear industry's key players in the design, manufacturing and distribution of prescription frames, sunglasses, outdoor eyewear, goggles, and helmets – and Victoria Beckham, Creative Director and Founder of her eponymous brand, announce today their new ten-year global licensing agreement for the design, manufacturing and distribution of the Victoria Beckham branded eyewear collections until December 2035. The full eyewear range – both optical and sun – will be unveiled for the Spring-Summer 2026 season, hitting the market in January 2026. "We are excited to welcome to our portfolio one of the industry's most iconic creative directors. Together, we aim to strengthen the brand's position as a global eyewear reference in women's fashion, offering uniquely designed and beautifully crafted pieces that stand out for their attention to detail, minimal design, and sophisticated aesthetics - a luxury proposition empowered by the influence and legacy of Victoria Beckham, who has successfully built and affirmed her brand within the fashion industry" - declared Angelo Trocchia, CEO of Safilo Group. "This collaboration will further enhance the women's portfolio within Safilo's brand architecture and strengthen our presence in the luxury segment". "I'm thrilled to be working with Safilo to take Victoria Beckham Eyewear to the next level. Their expertise in the field is unparalleled, with a long-standing reputation for exceptional quality and craftsmanship. With their global reach and industry-leading capabilities, I'm excited about the opportunities ahead and can't wait to bring our shared vision to life," said Victoria Beckham, the brand's Creative Director. About Safilo Group Safilo is a global player in the eyewear industry that has been creating, producing, and distributing for over 90 years sunglasses, prescription frames, outdoor eyewear, goggles and helmets. Thanks to a data-driven approach, Safilo goes beyond the traditional boundaries of the eyewear industry: in just one company it brings together Italian design, stylistic, technical and industrial innovation, and state-of-the-art digital platforms, developed in its digital hubs in Padua and Portland, and made available to Opticians and Clients for an unmatched customer experience. Guided by its purpose, See the world at its best, Safilo is leading its Group legacy, founded on innovation and responsibility, onwards towards the future. With an extensive global presence, Safilo's business model enables it to monitor its entire production and distribution chain. From research and development in five prestigious design studios, located in Padua, Milan, New York, Hong Kong and Portland, to its company-owned production facilities and network of qualified manufacturing partners, Safilo Group ensures that every product offers the perfect fit and meets high quality standards. Reaching approximately 100,000 selected points of sale worldwide with an extensive wholly owned network of subsidiaries in 40 countries and more than 40 partners in 70 countries, Safilo's well-established traditional wholesale distribution model, which encompasses eyecare retailers, chains, department stores, specialized retailers, boutiques, duty free shops and sporting goods stores, is complemented by Direct-to-Consumer and Internet pure player sales platforms, in line with the Group's development strategies. Safilo Group's portfolio encompasses home brands - Carrera, Polaroid, Smith, Blenders, Privé Revaux and Seventh Street. The perpetual license Eyewear by David Beckham. Licensed brands include: BOSS, Carolina Herrera, Dsquared2, Etro, Fossil, HUGO, Isabel Marant, Juicy Couture, Kate Spade New York, Kurt Geiger, Levi's, Liz Claiborne, Love Moschino, Marc Jacobs, Missoni, Moschino, Pierre Cardin, PORTS, Stuart Weitzman, Tommy Hilfiger, Tommy Jeans and Under Armour. The parent company, Safilo Group S.p.A., is listed on the Euronext Milan organized and managed by Borsa Italiana (ISIN code IT0004604762, Bloomberg Reuters In 2024, Safilo Group recorded net revenues for Euro 993.2 million. About Victoria Beckham Launched in 2008 with a collection of dresses celebrated for their cut and fit, today Victoria Beckham's eponymous label brand forms the basis for the modern woman's wardrobe with perfectly executed silhouettes rooted in a sophisticated ease. A considered blend of classic British luxury and contemporary flair, the brand's offering is developed at the Victoria Beckham HQ atelier in London and has expanded over the years to include everything from expertly crafted ready-to-wear, accessories and leather goods to award-winning beauty. Fuelled by a longtime obsession with art and film, worlds from which she often draws inspiration, the transition from designer's muse to Creative Director of her own brand was a natural one for Victoria Beckham, thanks in part to her meticulous attention to detail and a distinctly luxurious sensibility. With offices in London and New York and a flagship store in Mayfair, the brand has won critical acclaim alongside multiple industry awards. In addition to Victoria Beckham is carried in 230 stores in 50 countries worldwide, with dedicated personalised spaces in key department stores. Contacts: Safilo Group Investor Relations Barbara Ph. +39 049 6985766https:// Safilo Group Press Office Elena Mob. +39 339 1919562 Barabino&Partners Ph. +39 02 72023535Mob. +39 338 9350534 Victoria Beckham Press OfficeLauren View original content to download multimedia: SOURCE Safilo Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
01-07-2025
- Business
- Cision Canada
SAFILO GROUP AND VICTORIA BECKHAM ANNOUNCE A TEN-YEAR GLOBAL LICENSING AGREEMENT FOR EYEWEAR COLLECTIONS
PADUA, Italy and LONDON, July 1, 2025 /CNW/ -- Safilo Group – one of the eyewear industry's key players in the design, manufacturing and distribution of prescription frames, sunglasses, outdoor eyewear, goggles, and helmets – and Victoria Beckham, Creative Director and Founder of her eponymous brand, announce today their new ten-year global licensing agreement for the design, manufacturing and distribution of the Victoria Beckham branded eyewear collections until December 2035. The full eyewear range – both optical and sun – will be unveiled for the Spring-Summer 2026 season, hitting the market in January 2026. "We are excited to welcome to our portfolio one of the industry's most iconic creative directors. Together, we aim to strengthen the brand's position as a global eyewear reference in women's fashion, offering uniquely designed and beautifully crafted pieces that stand out for their attention to detail, minimal design, and sophisticated aesthetics - a luxury proposition empowered by the influence and legacy of Victoria Beckham, who has successfully built and affirmed her brand within the fashion industry" - declared Angelo Trocchia, CEO of Safilo Group."This collaboration will further enhance the women's portfolio within Safilo's brand architecture and strengthen our presence in the luxury segment". "I'm thrilled to be working with Safilo to take Victoria Beckham Eyewear to the next level. Their expertise in the field is unparalleled, with a long-standing reputation for exceptional quality and craftsmanship. With their global reach and industry-leading capabilities, I'm excited about the opportunities ahead and can't wait to bring our shared vision to life," said Victoria Beckham, the brand's Creative Director. About Safilo Group Safilo is a global player in the eyewear industry that has been creating, producing, and distributing for over 90 years sunglasses, prescription frames, outdoor eyewear, goggles and helmets. Thanks to a data-driven approach, Safilo goes beyond the traditional boundaries of the eyewear industry: in just one company it brings together Italian design, stylistic, technical and industrial innovation, and state-of-the-art digital platforms, developed in its digital hubs in Padua and Portland, and made available to Opticians and Clients for an unmatched customer experience. Guided by its purpose, See the world at its best, Safilo is leading its Group legacy, founded on innovation and responsibility, onwards towards the future. With an extensive global presence, Safilo's business model enables it to monitor its entire production and distribution chain. From research and development in five prestigious design studios, located in Padua, Milan, New York, Hong Kong and Portland, to its company-owned production facilities and network of qualified manufacturing partners, Safilo Group ensures that every product offers the perfect fit and meets high quality standards. Reaching approximately 100,000 selected points of sale worldwide with an extensive wholly owned network of subsidiaries in 40 countries and more than 40 partners in 70 countries, Safilo's well-established traditional wholesale distribution model, which encompasses eyecare retailers, chains, department stores, specialized retailers, boutiques, duty free shops and sporting goods stores, is complemented by Direct-to-Consumer and Internet pure player sales platforms, in line with the Group's development strategies. Safilo Group's portfolio encompasses home brands - Carrera, Polaroid, Smith, Blenders, Privé Revaux and Seventh Street. The perpetual license Eyewear by David Beckham. Licensed brands include: BOSS, Carolina Herrera, Dsquared2, Etro, Fossil, HUGO, Isabel Marant, Juicy Couture, Kate Spade New York, Kurt Geiger, Levi's, Liz Claiborne, Love Moschino, Marc Jacobs, Missoni, Moschino, Pierre Cardin, PORTS, Stuart Weitzman, Tommy Hilfiger, Tommy Jeans and Under Armour. The parent company, Safilo Group S.p.A., is listed on the Euronext Milan organized and managed by Borsa Italiana (ISIN code IT0004604762, Bloomberg Reuters In 2024, Safilo Group recorded net revenues for Euro 993.2 million. About Victoria Beckham Launched in 2008 with a collection of dresses celebrated for their cut and fit, today Victoria Beckham's eponymous label brand forms the basis for the modern woman's wardrobe with perfectly executed silhouettes rooted in a sophisticated ease. A considered blend of classic British luxury and contemporary flair, the brand's offering is developed at the Victoria Beckham HQ atelier in London and has expanded over the years to include everything from expertly crafted ready-to-wear, accessories and leather goods to award-winning beauty. Fuelled by a longtime obsession with art and film, worlds from which she often draws inspiration, the transition from designer's muse to Creative Director of her own brand was a natural one for Victoria Beckham, thanks in part to her meticulous attention to detail and a distinctly luxurious sensibility. With offices in London and New York and a flagship store in Mayfair, the brand has won critical acclaim alongside multiple industry awards. In addition to Victoria Beckham is carried in 230 stores in 50 countries worldwide, with dedicated personalised spaces in key department stores. Contacts: Safilo Group Investor Relations Barbara Ferrante [email protected] Ph. +39 049 6985766 Safilo Group Press Office Elena Todisco [email protected] Mob. +39 339 1919562 Barabino&Partners S.p.A. Pietro Cavallera [email protected] Ph. +39 02 72023535 Mob. +39 338 9350534 Victoria Beckham Press Office Lauren Archer [email protected]
Fashion United
01-07-2025
- Business
- Fashion United
Safilo becomes eyewear licensing partner of Victoria Beckham
Italian eyewear group Safilo and Victoria Beckham, creative director and founder of the eponymous fashion label, have signed a new licensing deal. The ten-year agreement covers the development, production and distribution of Victoria Beckham eyewear collections, and runs until the end of December 2035. The entire product line, which includes optical frames and sunglasses, will be presented for the spring/summer 2026 season. It will be available in stores from January 2026. Angelo Trocchia, CEO of Safilo Group, said in a statement: "We will work together to strengthen the brand's position as a global benchmark for women's eyewear in the high-fashion segment. We will offer uniquely designed and beautifully crafted pieces characterised by their attention to detail, minimalist design and sophisticated aesthetic. This is a luxury offering strengthened by the influence and legacy of Victoria Beckham, who has successfully built and established her brand in the fashion industry." Beckham also praised the new partnership. "I am thrilled to be collaborating with Safilo to take Victoria Beckham eyewear to a new level," she said in a statement. "Their unparalleled expertise in the industry is built on a long-standing reputation for excellent quality and craftsmanship. Given their global presence and strong industry expertise, I am excited about the opportunities that lie ahead. I can't wait to bring our shared vision to life." Victoria Beckham Image: Hippolyte Petit
Time of India
11-06-2025
- Automotive
- Time of India
French luxury group Kering buys sun lens maker Lenti from Italy's Safilo
HighlightsKering Eyewear has acquired Italian sunglass lens manufacturer Lenti from Safilo as part of its strategy to enhance supply chain control. Lenti, located in Bergamo and employing approximately 100 staff, specializes in moulding and surface treatments for sunglass lenses and other components. This acquisition follows Kering Eyewear's recent purchases of Visard and a minority stake in Mistral, highlighting its ongoing industrial development strategy. Kering Eyewear has agreed to buy Italian sunglass lens maker Lenti from Safilo , the unit of French luxury group Kering said on Tuesday, as it pushes for greater control of its supply chain. Headquartered in the northern city of Bergamo and with some 100 employees, Lenti specializes in moulding and surface treatments, including for sunglass lenses, visors and components for the lighting and automotive sectors. Neither Kering Eyewear nor Safilo, which also sent out a statement on the deal, disclosed financial details of the sale. Kering started its in-house eyewear division more than ten years ago, making glasses for its own labels such as Gucci, Saint Laurent and Balenciaga and other brands such as Cartier. Revenues at the division rose 2% in the first quarter, outperforming the group overall, which was dragged down by a 25% drop in sales at Gucci. Kering Eyewear said the deal is "another milestone" in its industrial development strategy. In April it signed an agreement to buy Visard and a minority stake in Mistral, two Italian manufacturers of sunglasses and optical frames. Last month Italian eyewear maker Safilo, which produces sunglasses for brands such as Tommy Hilfiger, said it had renewed its supply agreement with Kering Eyewear until 2029. Most of Safilo's production is based in China, while only 10% is from Italy, CEO Angelo Trocchia said in a conference call with analysts last month. Safilo sold a bigger plant in Italy in 2023.
