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Safilo shares jump on eyewear deal with influencer Ferragni

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Reuters API

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Sep 13, 2021

Safilo’s shares rose greater than 14% on Monday after the Italian eyewear group signed a multi-year licensing take care of Chiara Ferragni to design, make and distribute the primary eyewear assortment beneath the Instagram trend-setter’s model.

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The total vary, together with optical and sun shades, will come to the market in January 2022, Safilo stated in an announcement.

The collaboration with Ferragni, a 34-year-old Italian digital entrepreneur with virtually 25 million followers on her Instagram account the place she shares style and elegance recommendation, is supposed to assist Safilo in its digital technique and in its bid to succeed in youthful purchasers.

“It represents an ideal slot in our model portfolio and a big alternative for us to develop within the up to date phase,” Safilo CEO Angelo Trocchia stated within the assertion.
Working with Ferragni has boosted different Italian style shares in current months.

Tod’s shares jumped in April when the luxurious shoemaker added her to its board as a part of efforts to win over youthful consumers, and the inventory’s market capitalisation greater than doubled within the following two months.

“After Tod’s, the market has turn out to be accustomed to the truth that any deal involving Ferragni is optimistic information and persons are dashing to purchase,” a Milan-based dealer stated.

By 1101 GMT, Safilo shares have been up 8.6%, outperforming a 1% acquire in Milan’s All-Share index. The inventory earlier rose as a lot as 14.2% to ranges final seen in September 2018.

 

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https://us.fashionnetwork.com/information/Safilo-shares-jump-on-eyewear-deal-with-influencer-ferragni,1333364.html | Safilo shares bounce on eyewear take care of influencer Ferragni

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