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Safilo Q1 sales rise on demand pickup in Europe, North America resilience -Breaking

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© Reuters. In this illustration from May 1, 2022, you can see the Safilo logo. REUTERS/Dado Ruvic/Illustration

MILAN, (Reuters) – Italian eyewear brand Safilo announced Tuesday a 8.4% jump in the first quarter of sales at constant currency rates. The rise was due to the resilience of Safilo’s prescription frames business as well as a recovery in sunglass and other sales, especially in Europe.

Tommy Hilfiger and Hugo Boss frames were made by the same company that produced Tommy Hilfiger’s frames. The manufacturer of Tommy Hilfiger frames stated in a statement, January to March sales reached 282.6 million Euros ($297.61 Million), with core profits margins rising from 10% to 11.3%.

Company stated that it saw a pick-up of demand in Europe because of its key brands and licences. North America, however, remained strong despite the “tough comparability basis.”

The report also stated that APAC region revenues fell 9.3% at constant currencies because of the renewed COVID-19 China lockdowns.

Angelo Trocchia, Chief Executive of Angelo Trocchia stated that he is confident in the sector’s resilience and effectiveness and will support sales growth and margin growth in the future.

($1 = 0.9496 euros)

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