MILAN — While seeing an acceleration in the last quarter, global growth and the consolidation of the newly acquired Polaroid Eyewear business, yet hurt by the phasing out of the Giorgio Armani group's licenses, Safilo Group SpA in 2012 posted a 7.2 percent drop in net profit to 25.9 million euros, or $ 33.1 million, from 27.9 million euros, or $38.8 million in the previous year.
In the 12 months ended Dec. 31, sales grew 6.7 percent to 1.17 billion euros, or $1.5 billion.Safilo chief executive officer Roberto Vedovotto said that, as it tackled a challenging economy, the firm's "strategic priority was to focus on the top-line growth" of its portfolio and "on profitability, as well as to maintain a solid capital structure, despite the expected Armani phase-out negative effect."
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"