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Safilo announces its intention to close its production site in Ormoz - PRICE SENSITIVE

11/03/21

SAFILO ANNOUNCES ITS INTENTION TO CLOSE THE PRODUCTION SITE IN ORMOZ (SLOVENIA)

 

Padua, March 11, 2021 – Safilo announces its intention to close the Slovenian production site in Ormož starting from June 2021, which – in the context of the plan to realign the Group’s industrial capacity to current and future production needs – will involve 557 employees.

This intervention follows the actions taken in Italy in 2020, which involved the closure of the Martignacco production site and the reorganization of the Longarone site, which is still ongoing.

The already complex situation of the Ormož site in terms of reduction of volumes – due to the termination of the licensing agreements for major brands and the ever-growing trend towards acetate products, a material appreciated by optical customers and consumers for its quality and prestige – has been worsened by the Covid-19 pandemic and has led to structural imbalances which are not sustainable for the years to come.

Furthermore, the above-mentioned closure would be consistent with the Group’s business objectives aimed at optimizing and improving the efficiency of its manufacturing footprint.

The Group confirms the opening of a discussion table with the Trade Unions and institutions to identify all possible solutions in order to mitigate any social impacts of this painful scenario.

 

 

About Safilo Group

Established in 1934 in Italy’s Veneto region, Safilo Group is one of the eyewear industry’s principal players in the design, manufacturing and distribution of optical frames, sunglasses, sports eyewear, goggles and helmets. The Group designs and manufactures its collections by blending stylistic, technical and industrial innovation with quality and skillful craftsmanship. With an extensive global presence, Safilo’s business model enables it to monitor its entire production and distribution chain. From research and development in five prestigious design studios, located in Padua, Milan, New York, Hong Kong and Portland, to its company-owned production facilities and network of qualified manufacturing partners, Safilo Group ensures that every product offers the perfect fit and meets the highest quality standards. Reaching approximately 100,000 selected points of sale worldwide with an extensive wholly owned network of subsidiaries in 40 countries and more than 50 partners in 70 countries, Safilo’s well-established traditional wholesale distribution model, which encompasses eyecare retailers, chains, department stores, specialized retailers, boutiques, duty free shops and sporting goods stores, is complemented by Direct-to-Consumer and Internet pure player sales platforms, in line with the Group’s development strategies.

Safilo Group’s portfolio encompasses own core brands:  Carrera, Polaroid, Smith, Safilo, Blenders, Privé Revaux and Seventh Street. Licensed brands include: Banana Republic, BOSS, David Beckham, Elie Saab, Fendi, Fossil, Givenchy, havaianas, HUGO, Isabel Marant, Jimmy Choo, Juicy Couture, kate spade new york, Levi’s, Liz Claiborne, Love Moschino, Marc Jacobs, Missoni, M Missoni, Moschino, Pierre Cardin, PORTS, rag&bone, Rebecca Minkoff, Tommy Hilfiger, Tommy Jeans and Under Armour.

The parent company, Safilo Group S.p.A., is listed on the Italian Stock Exchange (“MTA”) organized and managed by Borsa Italiana (ISIN code IT0004604762, Bloomberg SFL.IM, Reuters SFLG.MI). In 2019, Safilo Group recorded net revenues for Euro 939 million.

 

Contacts:

Safilo Group Investor Relations
Barbara Ferrante
Ph. +39 049 6985766
http://investors-en.safilogroup.com 

Safilo Group Press Office
Elena Todisco
Mob. +39 339 1919562
Anna Cappozzo
Mob. +39 366 9293953

 

Barabino&Partners S.p.A.
Pietro Cavallera
p.cavallera@barabino.it
Ph. +39 02 72023535
Mob. +39 338 9350534


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