Hugo Boss has secured a contract extension for their eyewear licensing agreement with Safilo, a leading Italian eyewear manufacturer, which is now set to run until the end of 2025. This renewal comes as a welcome relief for Safilo, especially after facing the loss of their Dior license to a competitor following LVMH’s decision to shift gears next year.
The significance of this renewal cannot be understated, particularly given the challenging year Safilo has had, with their share price plummeting by 55% over the past twelve months. With the extension in place, investors can breathe a sigh of relief knowing that Safilo’s partnership with Hugo Boss remains intact.
Angelo Trocchia, the CEO of Safilo Group, underscored the enduring relationship shared between the two companies, highlighting how the Boss and Hugo collections will bolster Safilo’s premium fashion offerings. This collaboration enables Safilo to tap into different consumer markets by leveraging the strength of these two iconic brands.
Ingo Wilts, the chief brand officer at Hugo Boss, conveyed his delight in extending the partnership with Safilo in the eyewear segment. He commended Safilo for their deep understanding of Hugo Boss’s brand ethos and their ability to bring these values to life in their product offerings. Wilts also expressed confidence in Safilo’s capabilities to execute their strategic vision and enhance the value of the brands.
Despite reporting a net loss of €273.2 million in their half-year financial report, Safilo continues to hold licenses for esteemed brands like Max Mara, Jimmy Choo, Fendi, and Givenchy. Moreover, the company has recently inked new deals with renowned names like David Beckham, Missoni, and Levi’s, underscoring their commitment to diversifying and expanding their brand portfolio.
For more information on this topic, you can visit Safilo Group’s official website and Hugo Boss’s official website.
