Italian eyewear company Safilo Group has recently received the first of three compensation payments from French luxury conglomerate Kering for the termination of their Gucci license. This marks a significant development in the eyewear industry, as Safilo prepares for a new chapter in its partnership with Gucci.
Who Produces Gucci Eyewear?
Gucci eyewear is produced by Safilo Group, an Italian company that has been a key player in the eyewear industry for decades. Safilo has a long history of craftsmanship and innovation, making it a natural fit for a prestigious brand like Gucci. The partnership between Safilo and Gucci has resulted in the creation of iconic eyewear designs that have captured the attention of fashion enthusiasts worldwide.
Safilo Struggled in 2017 After Losing Gucci License
In 2017, Safilo faced significant challenges after losing the Gucci license, which had been a major source of revenue for the company. The termination of the Gucci license dealt a blow to Safilo's financial performance and forced the company to reevaluate its business strategy. Safilo had to make strategic decisions to diversify its brand portfolio and regain its footing in the competitive eyewear market.
Kering Takes Eyewear Business In
Following the termination of the Gucci license, Kering, the parent company of Gucci, took its eyewear business in-house. This move signaled a shift in the luxury eyewear landscape, as Kering sought to have more control over its brand's eyewear products. Kering's decision to bring its eyewear business in-house had a ripple effect on Safilo, prompting the Italian company to reassess its partnerships and focus on strengthening its core business.
Kering Eyewear and Safilo Renew Their Supply Agreement
Despite the challenges faced by Safilo, the company was able to renew its supply agreement with Kering Eyewear. This renewed partnership allowed Safilo to continue producing and distributing eyewear for Kering-owned brands, showcasing the resilience and adaptability of the Italian eyewear company. The renewed supply agreement also underscored the importance of collaboration and partnership in the luxury eyewear industry.
Safilo Group
Safilo Group, with its rich heritage and expertise in eyewear manufacturing, remains a key player in the industry. The company's ability to navigate challenges and adapt to changing market dynamics has enabled it to maintain its position as a trusted partner for luxury brands. Safilo's commitment to quality and innovation has helped it forge lasting relationships with prestigious fashion houses like Gucci, showcasing its ability to deliver exceptional eyewear products.
Gucci Readies for a Reset as Creative Director De Sarno Exits
As Gucci prepares for a reset in its eyewear division, the departure of Creative Director De Sarno has brought about new opportunities for the brand. Gucci's renewed focus on eyewear design and innovation signals a new chapter in its partnership with Safilo Group. The departure of De Sarno opens the door for fresh perspectives and creative directions, setting the stage for exciting new collaborations between Gucci and Safilo.
Gucci Group and Safilo Group Announce Renewal of Eyewear
The announcement of the renewal of the eyewear partnership between Gucci Group and Safilo Group signifies a continued commitment to excellence and innovation. The renewed partnership paves the way for exciting new eyewear collections that embody the unique style and vision of the Gucci brand. Safilo's expertise in eyewear manufacturing combined with Gucci's iconic designs promises to deliver eyewear offerings that capture the essence of luxury and style.
Kering Renews Its Gucci Optical Deal with Safilo for...
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