MILAN – Shares in Safilo climbed 3.17 percent in mid-morning trading on Monday after the company said it had renewed its license with Christian Dior Couture. The Italian eyewear company and the French firm extended the agreement for the design, production and worldwide distribution of the Dior and Dior Homme eyewear collections through Dec. 31, 2020.
At the same time, Safilo said its licensing agreement with Céline, which will officially expire at the end of 2017, will not be renewed. Safilo originally signed with Céline in 2011 for the design, production and manufacturing of the French luxury brand’s eyewear collections. According to Safilo, the licensing agreement with Céline currently accounts for 3 percent of its total sales.
Safilo closed 2015 with revenues of 1.28 billion euros, or $1.42 billion at average exchange rates.
Along with Dior and Dior Homme, the Italian company also manufactures and distributes the eyewear collections for a range of brands, including Fendi, Marc Jacobs, Max Mara, Swatch and Tommy Hilfiger.