Latest news with #AngeloTrocchia
Yahoo
3 hours ago
- Automotive
- Yahoo
French luxury group Kering buys sun lens maker Lenti from Italy's Safilo
ROME (Reuters) -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. Sign in to access your portfolio
Fashion Network
6 days ago
- Business
- Fashion Network
Italian eyewear group Safilo renews contract with Kering Eyewear until 2029
Italy-based eyewear manufacturer Safilo has renewed its supply agreement with Kering Eyewear ahead of schedule. According to a company statement, the new term is set to run until 2029. See catwalk Safilo recorded sales of 285.8 million euros in the first quarter of the year, marking a 2.2% increase at constant exchange rates and a 3.1% rise at current exchange rates compared to the same period last year. 'The year 2025 got off to an encouraging start, especially in January, when North America confirmed the good signs of recovery seen at the end of 2024,' said Angelo Trocchia, Safilo's CEO.
Fashion Network
6 days ago
- Business
- Fashion Network
Italian eyewear group Safilo renews contract with Kering Eyewear until 2029
Italy-based eyewear manufacturer Safilo has renewed its supply agreement with Kering Eyewear ahead of schedule. According to a company statement, the new term is set to run until 2029. See catwalk Safilo recorded sales of 285.8 million euros in the first quarter of the year, marking a 2.2% increase at constant exchange rates and a 3.1% rise at current exchange rates compared to the same period last year. 'The year 2025 got off to an encouraging start, especially in January, when North America confirmed the good signs of recovery seen at the end of 2024,' said Angelo Trocchia, Safilo's CEO.
Fashion Network
6 days ago
- Business
- Fashion Network
Italian eyewear group Safilo renews contract with Kering Eyewear until 2029
Italy-based eyewear manufacturer Safilo has renewed its supply agreement with Kering Eyewear ahead of schedule. According to a company statement, the new term is set to run until 2029. See catwalk Safilo recorded sales of 285.8 million euros in the first quarter of the year, marking a 2.2% increase at constant exchange rates and a 3.1% rise at current exchange rates compared to the same period last year. 'The year 2025 got off to an encouraging start, especially in January, when North America confirmed the good signs of recovery seen at the end of 2024,' said Angelo Trocchia, Safilo's CEO.
Fashion Network
6 days ago
- Business
- Fashion Network
Italian eyewear group Safilo renews contract with Kering Eyewear until 2029
Italy-based eyewear manufacturer Safilo has renewed its supply agreement with Kering Eyewear ahead of schedule. According to a company statement, the new term is set to run until 2029. See catwalk Safilo recorded sales of 285.8 million euros in the first quarter of the year, marking a 2.2% increase at constant exchange rates and a 3.1% rise at current exchange rates compared to the same period last year. 'The year 2025 got off to an encouraging start, especially in January, when North America confirmed the good signs of recovery seen at the end of 2024,' said Angelo Trocchia, Safilo's CEO. With Ansa
