Safilo's shares rose more than 14% on Monday after the Italian eyewear group signed a multi-year licensing deal with Chiara Ferragni to design, make and distribute the first eyewear collection under her brand.
Chiara Ferragni is one of the biggest influencers globally and now Safilo is set to tap into that with the eyewear giant having signed a new deal with the blogger-turned-entrepreneur. Its her first move in eyewear.
Eyewear giant Safilo has reported Q4 and full-year results and in the light of the pandemic, the figures look good. It managed a Q4 sales rise and adjusted EBITDA also rose, even though the full year was loss-making.
The Italian eyewear group has bought a 70% stake in Blenders Eyewear LLC from Chase Fisher, who founded the company in 2012 and remains as CEO with a 30% interest. The company’s full valuation was $90 million.