Safilo Group has reorganized its structure in Europe by creating a new business region in Northern Europe. Along with the Nordic countries, such as Sweden, Finland, Denmark, Norway, the Baltics and Iceland, this now also includes the U.K. and Ireland. Fréderic Laffort, already U.K. country manager and global departments store channel leader, will lead the Northern region.
Consequently, the Italian eyewear company has debuted a showroom in Stockholm, which follows the recent openings in London, Zurich, Hong Kong, Dubai and Mexico City.
“North becomes one of Safilo’s most important markets in Western Europe, enabling us to lead here with strong tailor-made and impactful customer and consumer plans, and drive market share growth,” said Joanna Onland, who was recently appointed chief commercial officer for Western Europe and global key accounts and member of Safilo Group’s executive committee. “Our special focus goes to Polaroid, Carrera and Smith. Polaroid in particular has historically seen Nordic as a global leadership market, and today takes further steps forward in product design, quality, and impactful communication programs, while preserving its core proposition as the trusted original inventor of polarization and democratic expression.”
The establishment of the new region is part of the group’s 2020 strategic plan aimed at enlarging Safilo’s geographic coverage.
Safilo, which completed the acquisition of sun lens manufacturer Lenti last September, manufactures eyewear under licensing agreements for major brands including Dior, Fendi and Céline. Safilo’s license for Gucci comes to a close in December, two years earlier than originally planned, as the brand’s parent company Kering prepares to internalize control over its eyewear.
Since the announcement of the loss of the Gucci license, Safilo has inked deals with several new brands including Swatch, Elie Saab and Havaianas. Earlier this month, it revealed it would take on the license for Moschino’s eyewear from January 2018.
The company reported a sharp rise in adjusted net profits in the six months ended June 30, up 130.6 percent to 22.9 million euros, or $25.6 million at average exchange for the period, thanks to a lower tax rate and a positive financial gain. This was despite a slowdown in first-half revenues, which fell 3.5 percent to 651.1 million euros, or $729.2 million.