MILAN — Safilo and Pierre Cardin have renewed the licensing agreement for the production and distribution of the French brand’s eyewear collection.
The agreement between the two companies dates back to 1991 and, through the renewal, the license will run until Dec. 31, 2026. The new partnership was revealed on Tuesday at the end of trading in Milan, where Safilo is publicly listed.
“I am extremely pleased to continue the long and successful partnership with Safilo,” said Pierre Cardin, whose business mainly relies on licensed collections. “This license agreement renewal is a confirmation of the trust that my maison has been placing for years in the group, which has proved to be a perfect strategic partner able to fully understand the DNA of our brand and to translate our values into collections and unique eyewear products with a contemporary design.”
Angelo Trocchia, chief executive officer of Safilo, also expressed his satisfaction, noting that the partnership “has brought pride and success to both companies for many years. With this renewal we look forward to continuing our work together to build and further develop the Pierre Cardin brand in the eyewear segment. For Safilo, this brand remains an excellent fit within our portfolio thanks to its brand positioning, product styling and consumer target.”
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In addition to its own brands Carrera, Polaroid, Smith and Safilo, the group produces and distributes eyewear for labels ranging from DB Eyewear by David Beckham, Missoni, Marc Jacobs and Moschino to Tommy Hilfiger, Under Armour and Levi’s. Safilo expects the exit of the Dior brand beginning Jan. 1, 2021, and the Fendi label beginning July 1 that same year. Both of those brands are owned by LVMH Moët Hennessy Louis Vuitton.
As reported, last week Safilo shares soared after the company released a business update in relation to the COVID-19 pandemic.
“Based on the business rebound recorded in July, its performance in August and preliminary data for the month of September — the group’s management expects total net sales (including acquisitions) for third-quarter 2020 to grow by midsingle digits at constant exchange compared to the same quarter of the previous year. The positive trend in total sales supports the forecast for the quarter to return to a profit at the adjusted EBITDA [earnings before interest, taxes, depreciation and amortization] level,” the Italian eyewear giant stated.
The company attributed the recovery to an improved trend in sales, compared to the previous estimate of a moderate decline, and a more contained slowdown in the wholesale business. It cited continued recovery in the North American independent opticians’ market. Safilo also pointed to the strong progress of Smith’s online business, as well as a greater-than-expected contribution deriving from the group’s direct-to-consumer business, in particular for the recently acquired brands Blenders and Privé Revaux.
Last month, the Paris fashion community came together to celebrate the 70th anniversary of the house of Pierre Cardin with an evening of entertainment at the Théâtre du Châtelet.
The ceremony, originally scheduled to take place in April, was postponed due to the lockdown, as was the release of “House of Cardin,” the documentary that premiered at the Venice Film Festival last September.
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