MILAN — A weak dollar, the difficult global economy and cautious spending in the high-end range of the eyewear market hit Safilo Group in the first nine months of the year. The Italian eyewear manufacturer said net profits declined 62.6 percent to 14.5 million euros, or $22 million, from 38.7 million euros, or $51.8 million, in the first nine months of 2007.
Sales in the first nine months dropped 4.2 percent to 865.7 million euros, or $1.31 billion. Dollar figures were converted at average exchange rates for the periods to which they refer.
Massimiliano Tabacchi, who was appointed executive vice president of the group on Friday, said the results were “influenced by an international economic and financial situation marked by a strong uncertainty and the evident volatility of consumers.”
Tabacchi noted the U.S. and emerging countries such as China and South Korea helped balance more saturated and established markets such as Europe. Also, he said he was looking ahead at reaping the rewards of long-term projects that were initiated over the past 12 months, such as more efficient production, the strengthening of wholesale distribution and geographical expansion.
The performance of prescription glasses, he said, was particularly satisfying and showed strong growth of the Safilo-owned Carrera brand. Safilo produces and distributes eyewear collections for the likes of Alexander McQueen, Giorgio Armani, Bottega Veneta, Gucci, Marc Jacobs, Valentino, Yves Saint Laurent, Hugo Boss and Max Mara.
Safilo also said Roberto Vedovotto has returned to the company as chief executive officer. Vedovotto left the firm in 2006 after listing it on the stock market. Vittorio Tabacchi, president of Safilo, praised Vedovotto’s knowledge and experience and said he was “the right person to help Safilo achieve its strategic goals and to create value in the medium long term.”
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)