The Italian eyewear maker reported first-quarter sales up 14 percent year-over-year to 251.4 million euros ($306 million), a sign of recovery after a difficult 2020. Its share of online sales more than doubled, representing 13 percent of revenue, boosted by the acquisition of US e-commerce company Blenders Eyewear in 2019.
“2021 represents a fresh start for our Group, after two years of significant business turnarounds to establish a stronger and more resilient business model, with a diversified brand portfolio and a supply chain right-sized to market reality,” said chief executive officer Safilo Angelo Trocchia in a statement.
Safilo’s acquisition of Blenders and eyewear label Privé Revaux, as well as new license deals with Levi’s, David Beckham and other brands, helped grow the business as it exits lucrative contracts with LVMH labels Dior and Fendi. Safilo owns brands including Smith and Carrera and has licenses to produce eyewear for fashion labels including Hugo Boss, Tommy Hilfiger and Jimmy Choo. On Tuesday it it announced its latest licensing deal with Dsquared2, due to start in January 2022.