Safilo completes the acquisition of the Polaroid Eyewear business
SAFILO COMPLETES THE ACQUISITION OF THE POLAROID EYEWEAR BUSINESS
Padua, April 3, 2012, h.1.30pm – Safilo Group S.p.A. announces today the completion of the acquisition of the Polaroid Eyewear business, a world leader in optics and polarized lens technology and a global eyewear manufacturer and distributor, with a strong and recognizable market positioning.
Roberto Vedovotto, Chief Executive Officer of the Safilo Group, commented:
"We are extremely proud of the completion of the acquisition of Polaroid Eyewear, a historical yet contemporary business which will contribute to achieving the full potential of Safilo by expanding its offering in the specialist market segment which promises considerable future growth.
At exactly its 75th anniversary, Polaroid joins Safilo's own brand portfolio as the pioneer of the polarized lens technology and an iconic brand in the sunglass product category.
We have ambitious development projects for Polaroid, not only in Europe but also in those significant markets where the brand is currently under-represented and where the distribution network of Safilo Group will allow a prompt and solid expansion.
With Polaroid on board, we also have the opportunity to increase our offer of polarized products, thereby strengthening the Group in a business area which is constantly growing and which allows for further enhancement of our eyewear collections, also in the fashion and diffusion segment for our own brands as well as for our licensed brands.
Polaroid will occupy an important place alongside our other important own brands Carrera, Safilo and Smith, allowing us to continue with determination in the medium-long term growth strategy we have identified for the Group.”