Safilo’s sales dropped down 16.9% last year

According to the latest performance data released by Safilo of Italy eyewear group, sales in 2017 dropped 16.9% to 1 billion 40 million euros, and the fourth quarter revenue was 44 million euros to 249 million euros, which was affected by the Gucci suspension license agreement. The complete fourth quarter and annual performance report of the Safilo group will be released in March 13th.

It is reported that the 2014 Cayenne group said in a statement released by the group of professional assessment will make a decision to set up their own glasses business team, and the first plan of the team is not in agreement at the end of the agency ahead of 2 years to recover the Gucci, from the beginning of January 1, 2017 formally self.

As compensation, Kai Yun group will pay a 90 million euro compensation to Safilo group from 2014 to 2018 by installment. In addition, from January 1, 2017 to December 31, 2020, the two sides signed an additional product agreement for 4 years. According to the Safilo group, the additional agreements include product development, manufacturing, supply chains and possible agency agreements that may occur again.

In addition, Safilo signed an exclusive distribution agreement with Thailand and Kampuchea last year, which will further expand its distribution network in Asia, and has now covered 42 countries in the world. Safilo hopes to make up for the loss of the group’s Gucci brand empowerment agent through the relaying of the market. At present, Safilo’s brand business includes Fendi, Dior and Jimmy Choo, and there are news that large shareholders Hal holding or will increase its share in Safilo.