Italian Eyewear Company Safilo Has Big Plans For Expansion In India
Italian eyewear company, Safilo which owns licenses of designer eyewear brands such as Fendi, Dior and Gucci plans to expand in India and bring its entire portfolio of 30 brands by 2020. India is being seen as a country with immense potential. That’s why big players are now looking at India as a happening market. Safilo plans to bring Dior eyewear to India by the end of the year and in the next few years will bring the other 30 brands. Already, they are retailing 17 brands in India.
In a company rejig, Safilo included India into Dubai-headquartered Middle East and Africa operations, moving out of Asia-Pacific region so as to ensure visibility and investments. The firm is looking to raise the share of its own brands from 23 per cent to 40 per cent by 2020.
Safilo has been in India through its Indian subsidiary since 2001. Now it is looking at expanding its sales force and team here. The company is worth 3 billion euros and it owns brands such as Carrera, Polaroid, Smith, Safilo and Oxydo.