Latest news with #Lenti
Time of India
a day ago
- 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.
Yahoo
2 days ago
- Business
- Yahoo
Kering Eyewear Acquires Italian Manufacturer Lenti
MILAN — Kering Eyewear is further expanding its industrial footprint. On Tuesday, the Italian eyewear group said it is acquiring Italian manufacturer Lenti from Safilo. More from WWD Ciara Opts for Monochrome Black With Rhinestone-embellished Saint Laurent Sandals at BET Awards 2025 Dakota Johnson Goes Dainty With Saint Laurent Sandals and Gucci Dress for 'Materialists' Premiere Taylor Swift Marries Disco Glam and Y2K Party Style With Platform Gucci Heels and Crystal-trim Mini Dress in NYC Headquartered in Bergamo, Italy, Lenti has been part of Safilo's portfolio since 1996 and counts approximately 100 employees. The company is specialized in moulding and surface treatments to safeguard and improve vision in multiple application fields including sun lenses for eyewear, visors and other protective components for lighting, and the automotive and motorcycle industries. 'We have appreciated the excellence of Lenti's products for many years, and we are very proud to see it now joining Kering Eyewear, providing an additional area of expertise to our platform of best-in-class manufacturing skills, facilities, and, more than anything else, talents,' said Roberto Vedovotto, founder, president and chief executive officer of Kering Eyewear. Financial details of the transaction, which allows Kering Eyewear to establish in-house capabilities for the development of innovative and high-performance Made in Italy sun lenses, were not provided. The deal follows the partnership inked last month between Kering Eyewear and Google for the development of AI-powered glasses with Android XR, as reported. Also, in April, Kering Eyewear inked an agreement to acquire Italian eyewear manufacturers Visard and Mistral. Founded in 2014, Kering Eyewear was a pioneer in changing the business model for luxury groups in the eyewear category, straying from the well-trodden licensing business model. It has grown to produce and distribute collections for 14 brands, including Gucci, Cartier, Saint Laurent, Bottega Veneta, Balenciaga, Chloé, Alexander McQueen, Montblanc, Dunhill, Alaïa and Puma. It also owns the Lindberg, Maui Jim and Zeal Optics brands. In 2024, Kering Eyewear reached revenues of 1.6 billion euros, a 6 percent increase on 2023 on a comparable basis. It reported recurring operating income of 277 million euros, and a margin of 17.5 percent on sales. Publicly listed on the Italian Stock Exchange, Safilo Group's portfolio encompasses home brands — Carrera, Polaroid, Smith, Blenders, Privé Revaux and Seventh Street, as well as the perpetual license Eyewear by David Beckham, and licenses for brands ranging from Etro and Isabel Marant to Marc Jacobs, Missoni, Moschino and Tommy Hilfiger, among others. In midmorning trading following the news of the sale, Safilo shares were up 3.1 percent at 93 euro cents. In the three months ended March 31, Safilo registered a 3.1 percent increase in sales to 285.8 million euros, compared to 277.2 million euros in the same period last year. Best of WWD Lexxola Launches New Style: The Neo Chrome Hearts Debuts High-performance Ski Goggles Marchon and Lacoste Extend Eyewear Licensing Agreement 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
Fashion Network
2 days ago
- Automotive
- Fashion Network
Kering Eyewear acquires Italian lens manufacturer Lenti
Kering Eyewear continues to expand its operations to strengthen its supply chain. The eyewear division of French luxury group Kering has made its third acquisition in less than three months, purchasing Lombardy-based optical lens manufacturer Lenti from Italian group Safilo. The companies did not disclose the value of the transaction. Kering Eyewear describes the deal as 'a key milestone in its industrial development strategy,' providing the opportunity 'to add internal capabilities for the production of Italian-made sun lenses known for exceptional quality, technological innovation, and superior performance,' the company stated in a press release. Entrepreneur Marco Negri founded Lenti in 1996 in Brembate di Sopra, in the province of Bergamo, in partnership with the Safilo Group. The company employs around 100 people and has developed advanced technologies for graphic lenses. It specializes in molding and surface treatments that protect and enhance vision across various applications, including sunglass lenses, visors, lighting components, and protective elements used in the automotive and motorcycle industries. 'We have valued Lenti's products for many years and are proud to welcome the company to Kering Eyewear. It brings an additional area of expertise to our industrial platform of manufacturing capabilities, factories, and, most importantly, outstanding talent,' said Roberto Vedovotto, founder and CEO of Kering Eyewear. Since its creation in 2014, the eyewear division has focused on designing, developing, and selling eyewear, relying on a network of carefully selected production partners. However, the company's rapid growth in recent years—generating €1.6 billion in revenue in 2024—has led it to enhance control over its supply chain by acquiring some of its suppliers. In April, Kering Eyewear acquired Italian manufacturer Visard, which produces optical and sunglass frames using injected plastic, and took a minority stake in Italian company Mistral, known for its acetate frame designs, with the option to complete a full acquisition by 2030.
Yahoo
2 days 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
Time of India
2 days ago
- Business
- Time of India
Italy's Safilo reaches deal for sale of sun lens maker Lenti to Kering
Kering Eyewear has agreed to buy sunglass lens maker Lenti , from Italy's Safilo , the two companies said on Tuesday. European luxury groups are increasingly focusing on their eyewear businesses to boost revenue in face of an more challenging environment and are tightening their grip on production capacity. Gucci-owner Kering started its in-house eyewear division more than ten years ago, and makes glasses for its own labels including Saint Laurent, Balenciaga and Cartier. Safilo had achieved full control of Lenti - based in the northern Italian city of Bergamo - in 2016 in a move aimed at strengthening its offer in the sun lenses business. "This transaction marks a significant step for Safilo Group as it continues to refine its portfolio within the eyewear industry ," Safilo said in a statement. Kering said separately that the deal "is another milestone in the ongoing industrial development strategy, representing an opportunity for the company to establish in-house capabilities for the development of Made in Italy sun lenses." The groups did not disclose financial details of the sale.
