Safilo focuses on new generations with Levi Strauss & Co. The italian company has signed a multi-year agreement for the design, production and distribution of Levi’s eyewear, which will come into force in January 2020 and will continue until November 2024, with the possibility of renewal for a further five years, until 2029.
The first collection created for the American jeanswear company will be launched in spring-summer 2020. “This new partnership is particularly significant for our brand portfolio: the Levi’s brand is the number one in denim worldwide, among the favorites of the Millennials and from the Generation Z of the whole world “, underlined the managing director of the Safilo group, Angelo Trocchia. “With the Levi’s brand we have a great opportunity to grow in the contemporary segment, which globally is the largest in terms of size and development potential and is particularly relevant for further developments in key emerging markets such as China“.
Karyn Hillman, chief product officer of Levi Strauss & Co, also commented: “Eyewear is an important product category for the Levi’s brand, and our partnership with Safilo will further strengthen our position as an authentic lifestyle brand by offering eyewear. extraordinary to our consumers all over the world “.
As reported by Banca Akros, the San Francisco company is an important global player that in 2017 recorded a turnover of 4.9 billion dollars (equal to 4.27 billion euros at today’s exchange rate) and the operation, as commented by analysts: “This is positive news: Safilo is renewing and signing new licensing agreements that could offer protection in the event of non-renewal with other luxury brands, and we maintain our neutrality on the stock“. The Italian investment bank has allocated Safilo a target price of 1.36 euro.
In the early hours of trading today, the company scored a rise of almost 5 percentage points in Piazza Affari.