Safilo

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Safilo Group S.p.A.
Company typePublic
BIT: SFL
IndustryFashion, manufacturing
FoundedPieve di Cadore, Italy, in 1934
Headquarters
Padua
,
Italy
Area served
Worldwide
Key people
Angelo Trocchia (CEO), Eugenio Razelli (President), Guglielmo Tabacchi (Founder)
ProductsSport and fashion sunglasses, spectacle frames, ski helmets and goggles, bike helmets
ServicesOpticians, e-commerce
Revenue€1076.7 million (2022)[1]
€58.3 million (2022)[1]
Number of employees
<4500 (2021)[2]
Websitewww.safilogroup.com

Safilo Group S.p.A. (acronym of Società Azionaria Fabbrica Italiana Lavorazione Occhiali) is an Italian company that designs, produces, and distributes prescription frames, sunglasses, sports eyewear, ski goggles and helmets, and cycling helmets under its own five house brands and 32 licensed brands, including Smith Optics since 1996.

Safilo's products are manufactured in its own Italian facilities, with additional plants in China and the United States.[3] In the recent years Safilo sold or closed several of its plants,[4] Martingnacco, Italy in 2020,[5] Ormož, Slovenia in 2021,[6][7] and Longarone, Italy in 2023.[8] According to the 2023 Annual Report Safilo has wholly owned subsidiaries in 40 countries and more than 50 distribution partners in 70 countries.[3]

Safilo currently[when?] is the third largest company in eyewear. The company traditionally trailed Luxottica, later EssilorLuxottica, as the second largest company, though slipped to third when both LVMH and Kering began manufacturing eyewear for its brands rather than having Safilo produce eyewear for their fashion houses; Kering Eyewear subsequently became the second largest in 2022.[9][10][11]

History

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The first manufacturing site opened in 1878 to produce lenses and frames in Calalzo di Cadore, in the Venetian Alps. Guglielmo Tabacchi bought this production site in 1934 and founded a new eyewear company, Safilo, today the oldest player in the Italian eyewear industry.[12]

Throughout the years, the group's exports expanded to countries in Europe, North Africa, the Middle East and South America. During World War II, Safilo was forced to produce only one type of eyewear, a celluloid frame in two colors - amber and reddish Havana brown - that were all sent to Germany. After the war, exports to other European countries resumed and operations expanded to Rome and Milan with exports beginning to the United States.

In 1974, the founder of Safilo died and his sons took over. In the 1970s, Safilo opened sales offices in various European countries, patented the Elasta hinge, and introduced a popular UFO model of sunglasses.[12]

In the 1980s, Safilo developed designer collections[13] and gained full control of the American eyewear company Starline Optical Corp. It subsequently acquired then sunglass-maker Friuli-based Oxsol and was introduced on the Milan Stock Exchange in 1987.[12] In 1989, Safilo started to produce Gucci's eyewear, and extended to more PPR-owned (today Kering) brands such as Yves Saint Laurent, Bottega Veneta and Alexander McQueen.[12][14]

In the 1990s, Safilo entered the Asian market, in Hong Kong, opened branches in more countries in Europe, South Africa, Japan and Brazil. Safilo Group acquired the American sports eyewear maker Smith Sports Optics, Inc, and Austria's Carrera Optyl.[12]

In May 2001, Safilo's chairman Vittorio Tabacchi (grandson of Safilo's founder) launched a takeover bid to acquire full ownership of the Safilo Group. Still in 2001, the company inaugurated its new centralized warehouse at its Padua headquarters. In 2002, Safilo acquired the Solstice Sunglasses chain in US, which was then sold in 2019 to focus exclusively on the wholesale business model. Roberto Vedovotto was CEO of the Safilo Group from 2002 to 2006 and relieved the group's saddling debt by selling 40% to Crédit Suisse First Boston.[12] The company returned to the Milan Stock Exchange in December 2005. That year, the Safilo Group made $1.1 billion in revenue and produced 2,500 new eyewear designs.[13] Roberto Vedovotto returned to lead Safilo as CEO in November 2009.[12]

In January 2019, HAL Holdings N.V., through its subsidiary Multibrands Italy B.V., increased its shares in Safilo to 49.8%. In 2020, the Safilo Group completed the acquisition of Blenders Eyewear and Privé Revaux, two digitally native brands powered by a strong e-commerce business model. The eyewear group also partnered with The Ocean Cleanup to create sunglasses made with ocean waste plastic.[15]

Safilo owns its private collection about the history of eyewear and of the company.[16]

In January 2024, Safilo renewed its partnership with Levi's until 2029.[17][18][19]

Eyewear brands

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House brands:[20]

Licensed eyewear brands:[20]

See also

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References

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  1. ^ a b "Financial Highlights". Retrieved 2023-12-19.
  2. ^ "Official Press Release". Retrieved 2024-01-24.
  3. ^ a b "Safilo Annual Report 2023" (PDF). Safilo Group, safilogroup.com. p. 28.
  4. ^ "Production Sites". Safilo. Archived from the original on 7 September 2009.[self-published source]
  5. ^ "Safilo Confirms the Sale of the Martignacco Production Site". Retrieved May 22, 2024.
  6. ^ "STA: Počivalšek visits Safilo as Ormož plant is slated for closure". english.sta.si. Retrieved 2024-05-22.
  7. ^ "Safilo and the Slovenian Trade Unions and Work Council Reach Agreement Regarding the Closure of the Production Site in Ormoz" (PDF). Retrieved May 22, 2024.
  8. ^ "Finalized the Transfer of the Longarone Plant" (PDF). Retrieved May 22, 2024.
  9. ^ WW, FashionNetwork com. "LVMH-owned Thélios reportedly interested in buying Safilo's Italian factory". FashionNetwork.com. Retrieved 2023-08-30.
  10. ^ Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9.
  11. ^ McCauley, Sean (2023-03-13). "Shop Sunglasses & Glasses". Pretavoir. Retrieved 2023-08-30.
  12. ^ a b c d e f g "Safilo at 75" (PDF). WWD. 23 March 2009. Retrieved 10 October 2022.
  13. ^ a b Tagliabue, John (2006-03-24). "An Italian Rivalry Born of Expertise in Glass". The New York Times. ISSN 0362-4331. Retrieved 2022-10-10.
  14. ^ "Safilo e Gucci continuano a guardare nella stessa direzione". FashionNetwork.com (in Italian). 14 November 2008. Retrieved 2022-10-10.
  15. ^ Dimama, Elena (2020-10-26). "Safilo introduces sunglasses made with ocean waste plastic". DFNI. Retrieved 2022-10-10.
  16. ^ "Official Museum website".
  17. ^ "Levi's renouvelle sa collaboration avec Safilo jusqu'en 2029". Fashion Network. Retrieved 24 January 2024.
  18. ^ "Safilo et Levi Strauss prolongent leur accord de licence jusqu'à fin 2029". Boursorama. 18 January 2024. Retrieved 24 January 2024.
  19. ^ "Safilo et Levi Strauss prolongent leur accord de licence jusqu'à fin 2029". Zonebourse. 18 January 2024. Retrieved 24 January 2024.
  20. ^ a b Turra, Alessandra (18 December 2013). "Safilo Group Names Global Commercial Director". WWD. Retrieved 18 December 2013.
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