Safilo Group announces the termination of its licence agreement with Polo Ralph Lauren

27/02/2006
Padua, 27th February 2006 - Safilo Group today announced that its licence agreement for the manufacture and distribution of Ralph Lauren branded eyewear will expire on December 31st 2006.

Vittorio Tabacchi, Chairman of Safilo Group, commented: "During the negotiations for the renewal of the licence agreement significant differences became apparent which prevented us from reaching an agreement which was in line with our reciprocal interests. The consistency in terms of profitability of our licensed brands and the fundamental principle according to which royalties are not paid in advance remain the pillars on which the strategy of our company will continue to be based.”

Safilo Group underlines that the business generated by the 5 sub-brands of the Polo Ralph Lauren Group represents approximately 10% of its total turnover.
In this regard Safilo Group communicates that negotiations are taking place both to expand existing licences to include other brands, and to sign new worldwide licence agreements. The price positioning and customer target at which these new brands will be aimed will allow the company to completely recover sales.

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The Safilo Group, recently listed on the Mercato Telematico Azionario managed by Borsa Italiana in the Blue Chip segment, is leader in premium eyewear and in a leadership position in the sector of prescription, sunglasses, fashion and sports eyewear.
Present on the international market through exclusive distributors and 28 subsidiaries in the principal countries (in USA , Europe and Far East), Safilo distributes its own brand collections Safilo, Carrera, Smith, Oxydo, Blue Bay, as well as licensed branded collections, Alexander McQueen, Bottega Veneta, Boucheron, Christian Dior, Diesel, 55DSL, Emporio Armani, Giorgio Armani, Gucci, Imatra, Marc Jacobs, Max Mara, Oliver, Pierre Cardin, Polo Ralph Lauren, Stella McCartney, Valentino, Yves Saint Laurent. In addition, the following are exclusively for the American market: Fossil, Juicy Couture, Nine West, Kate Spade, Saks Fifth Avenue, Liz Claibourne and J.Lo by Jennifer Lopez.


Contacts:
Safilo Group S.p.A.
Nicoletta Chinello
Tel. 0039 049.69.85459

This press release is also available on the web site www.safilo.com



Last update: 19/07/2010, 17:33