Eyecare Business

OCT 2016

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C O R P O R A T E P R O F I L E Brand -Driven Design -Inspired s the fully integrated Italian eyewear creator and worldwide distributor, Safilo translates extraordinary design into excellent products thanks to a superior craftsmanship exper- tise dating back to 1878. Safilo is unique for its industry-leading high standards of design creativity, product creation, manufacturing excellence and quality distribution over an extensive wholly owned global network in 39 countries. Product- centered and end-user-focused, Safilo's heritage is what shapes us to be design inspired and brand driven. OUR MISSION FOR NORTH AMERICA The U.S. is Safilo's single biggest market, with a rooted and well- established commercial presence since 1962. Safilo's mission for the market is to reinforce the partnership with its customers, to build market share and accelerate profitable growth, leading the organi- zation to the highest standards of performance. We are investing significantly in developing our brands, accelerating our portfolio's organic growth, as well as our customers' sell out and store traffic generation, and lowering obsolescence to reduce product costs. REIGNITING OUR INDUSTRIAL LEADERSHIP The aim of our supply network reinvention strategy is to bring back the majority of our manufacturing to our own factories, mainly in our four manufacturing sites in Italy, as well as to Slovenia, China and Utah. Also, we are partnering with selected suppliers across the world. The reinvention is entailing unprecedented manufacturing investments in our plants. These changes involved in this reinvention—coupled with extraordinary global consumer demand of our Made in Italy brands like Dior, Céline and Fendi and for our handcrafted and sophisticated eyewear models—have prompted temporary capacity challenges during the first part of this year, and our customers may have expe- rienced related delivery pressure points on certain collections. These have been solved as our investments have started to show their impact and capacity of our Italian plants increased by 25% in Q2. Now at normal levels of delivery, we appreciate the very collaborative partnership of our customers through this important and necessary phase that will benefit all over time and has enabled Safilo to expand its manufacturing employment as an industrial powerhouse. The strategy outlined in our 2020 Plan is to pursue the creation and fueling of a balanced portfolio across five segments in which we want to lead with several well-differentiated brands mixing licensed and our own brands: Fashion Luxury, Contemporary/ Lifestyle, Mass Cool, Sports/Outdoor and Atelier. Our unique portfolio breadth is industry leading and very attractive. Safilo's commercial strategy anticipates the evolution of our brand portfolio. We are allocating significant investment behind new opportunities, focusing on listing our brands of the future in every single door, working with our customers to improve their sell- through and providing them with crucial end-user guidance. We have laser-targeted our offer so that our customers can address every specific end user need, presenting the right product with the right aesthetic direction and positioning. At the highest end, this is Dior, right beneath Jimmy Choo and Fendi, then the new Marc Jacobs megabrand complemented by Max Mara, BOSS, kate spade new york and Carrera on the upper contemporary. Hot brands that are on a trajectory of very fast growth in the U.S. are Céline, our new license Givenchy, Tommy Hilfiger and Fossil. We have clearly defined the brands and products within our port- folio that play into Gucci's offer, once our license expires at year end. Our go-forward strategy is to continue to grow our brands organical- ly and overproportionally while acquiring new brands to widen our offer consistently and without overlap. We believe in strong brands with unique equity DNA, translated into equally unique recognizable eyewear product design, distributed in clearly targeted channels. SAFILO PRODUCT SCHOOL We were among the first Italian eyewear creators, so we take the resulting responsibility towards the eyewear industry to heart and lead its nurturing and modernization. In this context, we launched the Safilo Product School last year, a three-year apprenticeship course devoted to creating the new generation of Safilo product directors. The second year has just begun. FOCUS ON CHILDREN With our Kids by Safilo ophthalmic collection for 0- to 8-year- olds, we led the industry to focus on children. Kids by Safilo uniquely responds to children's very specific needs, and most importantly, features a groundbreaking medical scientific approach thanks to the collaboration with the Italian Society of Pediatric Ophthalmology, and in compliance with the consensus statement of the World Society of Paediatric Ophthalmology and Strabismus. SAFILO'S VISION FOR ITS CORPORATE RESPONSIBILITY It's our honor to continue our partnership with Special Olympics because serving society is at the heart of our industry. We have provided over 1 million pairs of optical frames and sun- glasses to Special Olympics athletes all over the world since 2003, and proudly announced a new three-year commitment. a S P O N S O R E D B Y S A F I L O Product-Centered and End-User-Focused, Safilo Shares its Vision and Mission

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