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Safilo doubles adjusted net income in 2024 to €34.2 million

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By

Ansa

Translated by

Nicola Mira

Published



March 13, 2025

Italian eyewear group Safilo has reported revenue of €993.2 million for fiscal 2024, equivalent to a 2.3% decrease at constant exchange rates (and a 3.1% one at current rates) compared to 2023. The revenue downturn “reflected a combination of the termination of the Jimmy Choo license and the still unfavourable market dynamics for sunglasses and the sports business in North America,” the group said in a press release. Adjusted group net income was €34.2 million, more than double the result achieved in fiscal 2023. 

Angelo Trocchia, CEO of Safilo – Unilever

“2024 was a year marked by a complex macroeconomic context, which affected business and consumer confidence, influencing demand dynamics in various sectors, including eyewear. In the face of market challenges, we proved our resilience and adaptability, consolidating our competitive edge through dynamic brand portfolio management and targeted investments,” said Safilo CEO Angelo Trocchia in the press release. “Navigating this business context, we took decisive action on the elements within our control, and we are pleased to report that we concluded the year with improvements across all economic metrics, most notably with gross industrial margin nearing 60% of sales, and adjusted EBITDA margin rising to 9.4%,” added Trocchia.

Looking at the current year, “the complexity of the macroeconomic and geopolitical landscape, and the growing challenges associated with it will continue to impact the markets in which we operate, making it especially difficult to predict business trends in the coming months,” said Trocchia, adding that “in this context, we remain focused on strengthening our partnerships, maintaining agility and operational flexibility, with the goal of seizing opportunities to return to revenue growth. Our commitment to continuous margin improvement and consistent cash generation remains unchanged.”

Copyright © 2025 ANSA. All rights reserved.



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Prada’s CEO flies to New York as speculation swirls over Versace bid

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Reuters

Published



March 14, 2025

Luxury fashion powerhouse Prada is making bold moves. CEO Andrea Guerra has reportedly flown to New York, a source told Reuters, as the group engages in talks to acquire Versace from Capri Holdings—a deal that could bring together two of Italy’s most iconic fashion names.

A source revealed that on his visit to the U.S. financial hub, Prada CEO Andrea Guerra is joined by Lorenzo Bertelli, the son of the group’s key shareholders, Miuccia Prada and Patrizio Bertelli, who also serves as chief marketing officer.

Meanwhile, Capri Holdings, based in New York, announced on Thursday that Donatella Versace is stepping down as the brand’s main designer after nearly three decades.

Starting April 1, Dario Vitale, a designer from Miu Miu, a smaller brand within the Prada Group, will step into Donatella Versace’s role as chief creative officer of the Medusa-head brand. According to Morningstar analysts, this strategic move could pave the way for a potential Prada-Versace acquisition.

Prada declined to comment, and Reuters could not confirm whether Guerra’s trip was directly linked to discussions with Capri Holdings regarding a possible Versace deal.

Earlier this month, reports surfaced that Prada was nearing a €1.5 billion ($1.64 billion) agreement to acquire Versace. On February 20, a source told Reuters that Prada had been granted four weeks to review the financials of its smaller rival.

Beyond Versace, Prada is also rumored to be eyeing Jimmy Choo, another Capri Holdings brand, further signaling its ambitious expansion plans.

($1 = 0.9168 euros)

© Thomson Reuters 2025 All rights reserved.



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Umbo celebrates Manchester roots via ‘Northern Quarter’ collection, campaign

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British sportswear brand Umbro heads back to its Northern roots for the release of its collection and campaign for Spring/Summer 2025.

The new ‘Northern Quarter’ collection and supporting promo gains inspiration from “the authenticity and creativity of the brand’s home city Manchester, with the line “bringing Umbro’s sports heritage up to date with a casual street-savvy swagger”.

Umbro says it continues to shape the global landscape of sportswear, “defining style both on and off the pitch”. 

Recent partnerships, including with Palace, Supreme, and Aries, “have helped cement Umbro’s pioneering reputation within the sports fashion space”, it said. 

So this season, the brand refocuses on the place where it all started, “acknowledging its roots and archive, while incorporating a renewed and forward-thinking design code inspired by Manchester’s relentlessly vibrant and creative Northern Quarter”.

The football heritage-inspired collection “reinterprets archive classics through a contemporary lens”.

Key hero pieces include the Zip-Off Sleeve Wind Jacket (£90), which takes inspiration from the
track jacket Umbro produced for the England team in 1998; the Washed Drill Top (£67) and Washed Diamond Drill Sweat (£80), which directly reference the drill tops of the 1990s “embraced by players and fans alike”. They come reimagined in washed cotton with additional details including integrated pockets,

The campaign supporting the collection launch was shot by Jay Johnson and spotlights Northern Quarter’s new generation including Jefe, a socially conscious barber and former basketball player; street artist Tomas Gittins; and ‘Gone Fishing’ vintage store owner Seb Dixon.

“Each embodies the creative, entrepreneurial, and inclusive spirit of Manchester’s Northern Quarter”, notes Umbro.

The just-launched collection is available at umbro.co.uk as well as selected stockists including END, Size, Urban Outfitters and ASOS.

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Hera and Pepsi to launch ‘Here for More’ collaboration with motivational four-piece collection

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Fashion brand Hera has gone big with its latest collaborative partner… global soft drinks brand Pepsi. The partnership, entitled ‘Here for More,’ is a “bold celebration of both brands’ shared ambition to encourage people to be present, put enjoyment first, and strive to get more out of life”, we’re told.

As part of the collaboration comes a four-piece unisex limited-edition collection featuring hoodie and T-shirt designs, each embodying the essence of ‘Here for More.’

Each piece carries the motivational message: ‘Here for More. It all starts with your mindset. The pursuit of more’.

Designed in tonal colourways (black, grey marl, and off-white with touches of electric blue) they reflect Pepsi’s branding and Hera’s signature oversized look.

The accompanying “dynamic interactive” campaign includes exclusive interactive PR boxes, a series of pop-up events, and a visual fashion campaign that reflects Pepsi’s legacy and Hera’s bold identity.

The interactive PR boxes contain a locked ‘safe’ box containing the limited-edition hoodie, “encouraging the receiver to share their ‘Here for More’ mantra – a statement or quote that embodies a ‘More’ mindset – via social media to unlock the exclusive gift”.

The collection is being “secretly” dropped in four cities (London, Birmingham, Manchester and Glasgow) between 20-23 March and consumers will be able to try and win the exclusive pieces from special co-endorsed vending machines.

The collaboration is described as “an organic extension of Hera’s mission: to empower individuals through fashion that speaks to ambition, confidence, and an elevated lifestyle. The ‘Here for More’ collection is also inspired by Pepsi’s ‘Thirsty for More’ purpose – to champion those who challenge convention in the pursuit of enjoyment – while embracing Hera’s distinctive style”.

Available online at heraclothing.com from 17 March, the unisex collection is priced £88 for the hoodie and £58 for the T-shirt.

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