Italian eyewear company Safilo has reported robust sales and profit growth in the third quarter, thanks to successful collaborations with renowned fashion brands. Net sales rose by 14.9% to €226.6 million, or 4.6% at constant exchange rates, with organic growth of 5.6%. Adjusted EBITDA also saw a significant increase of 18.6% at €22.6 million.

Safilo attributed its growth to strong sunglass sales in Europe and emerging markets, which experienced a 7.1% increase in the third quarter. The company also performed well in the prescription frames business across all key markets, despite macro headwinds.

Licensed brands played a vital role in Safilo’s positive performance, with Tommy Hilfiger, Hugo Boss, David Beckham, Under Armour, and Isabel Marant driving organic growth. The addition of new licenses for Carolina Herrera, Chiara Ferragni, and Dsquared2 also contributed significantly to Safilo’s business.

In addition to strong sales, Safilo noted the return of consumers to stores, which provided an opportunity for the company to further develop and adopt its business-to-business platforms. The ‘You&Safilo’ business in Europe, in particular, experienced a 40% increase compared to the same period last year.

For the first nine months of the financial year, Safilo’s net sales increased by 12.7% to €831.3 million, with a 5.7% increase at constant exchange rates and a 9.9% organic rise. Gross profit also rose by 20.3% to €458.4 million, with a margin of 55.1%, compared to 51.7% the previous year. Adjusted EBITDA saw significant growth, rising by 24% to €85.3 million.

Safilo CEO Angelo Trocchia expressed satisfaction with the company’s Q3 performance, highlighting the strength of the markets in Europe, Latin America, and the Middle East, as well as the rebound of the Asian market. Trocchia acknowledged some logistical delays in the US but emphasized the resilience of the North American market despite challenging conditions.

Overall, Safilo’s collaborations with renowned fashion brands such as Tommy Hilfiger, David Beckham, and Isabel Marant have played a crucial role in its impressive sales and profit growth in Q3. With the return of consumers to stores, Safilo is well-positioned for continued success in the eyewear industry.

Useful links:
Safilo brand portfolio
Safilo company history