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Roberto Vedovotto: “We have ambitious development projects for Polaroid, not only in Europe but also in those significant markets where the brand is under-represented” |
ITALY. In a major industry consolidation, Safilo Group today announced the acquisition of the Polaroid Eyewear business.
Safilo described Polaroid as “a world leader in optics and polarized lens technology and a global eyewear manufacturer and distributor, with a strong and recognizable market positioning.
Safilo Group Chief Executive Officer Roberto Vedovotto 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.”
He continued: “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.”
The Safilo Group is a worldwide leader in the premium eyewear sector for sunglasses, optical frames and sports eyewear. With an international presence through 30 owned subsidiaries in primary markets – in America, Europe and Asia – and exclusive distributors, Safilo produces and distributes its house brands – Safilo, Carrera, Polaroid, Smith Optics, Oxydo, Blue Bay.
It also has a wide array of licensed brands: Alexander McQueen, A/X Armani Exchange, Balenciaga, Banana Republic, Bottega Veneta, Boss Black, Boss Orange, Céline, Dior, Emporio Armani, Fossil, Giorgio Armani, Gucci, Hugo, J.Lo by Jennifer Lopez, Jimmy Choo, Juicy Couture, Kate Spade, Liz Claiborne, Marc Jacobs, Marc by Marc Jacobs, Max Mara, Max&Co., Pierre Cardin, Saks Fifth Avenue, Tommy Hilfiger and Yves Saint Laurent.
