Safilo inks exclusive partnership deal in Saudi Arabia
Italian eyewear group Safilo is busy boosting its international footprint, finalising a series of partnerships with local eyewear distributors around the world. After inking deals for Iran, Chile, Belarus and Kazakhstan, Safilo has now announced the exclusive distribution agreement for Saudi Arabia signed with Dr. Mazen Fakeeh C. Healthcare Company, which has been operational since last June.
Safilo has marked the new deal by opening new Saudi showrooms in Jeddah and Riyadh.
In parallel, the Italian group has renewed its 25-year partnership with Optitalia Gulf, for the distribution in all the other countries part of the Gulf Cooperation Council (GCC).
In 2016, the Italian group owned by Dutch investment fund Hal recorded excellent results in the EMEA region, where it posted double-digit growth for the second consecutive year.
Safilo's heightened regional focus led to the deployment of a more effective portfolio strategy, strengthening the group's distribution presence in the Persian Gulf countries that are part of GCC.
Safilo was founded in 1934 and is the world's second-largest eyewear manufacturer, with a revenue of €1.25 billion in 2016. CEO Luisa Delgado is planning to grow the revenue share generated by the group's directly owned brands to 40% by 2020, the remaining 60% coming from licensed brands.
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