UPDATE | SAFILO | Let’s Play the Safilo 2.0
The management roadshow we hosted in Paris reinforced our conviction that Safilo now benefits from a clearer strategic vision with a focus on: 1/ customer-centricity and customer-oriented favoured by its own digitalisation, 2/ the rebalancing of its brand portfolio in favour of owned brands (BG: 48%e of 2024 sales vs. 30% in 2019), and 3/ cost-saving initiatives. This strategic plan should help Safilo to mitigate the impact of the three LVMH licenses (i.e. Dior, Fendi and Givenchy in 2021-22) and therefore, we see the 2024 targets as realistic.Safilo engages in the design, production, wholesale, and retail distribution of prescription eyewear, sunglasses, sports eyewear, and accessories. Co. also provides optical frames, technical sports goggles, ski goggles, and helmets. Co. provides its products under various brands such as Safilo and Smith, as well as under the licensed brands, such as Alexander McQueen and Banana Republic. Co. serves opticians, optometrists, ophthalmologists, distribution chains, department stores, specialized retailers, licensors' own stores, duty free shops, and sports shops through independent distributors and agents, as well as through its own branches in Europe, the Americas, Asia, and internationally.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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