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Safilo witnesses rise in Q4 sales

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Safilo witnesses rise in Q4 sales
In the fourth quarter of 2020, Safilo posted total net sales of 225.6 million euros, up 3 percent at constant exchange rates and down 2.1 percent at current exchange rates. Net sales performance in Q4 2020 allowed the group to continue the recovery of earnings started in the third quarter, registering a positive adjusted EBITDA of 15 million euros, up 34.5 percent, while the adjusted EBITDA margin increased to 6.6 percent of sales from 4.8 percent in Q4 2019, a 180 basis-point improvement.

Commenting on the performance, Angelo Trocchia, Safilo Chief Executive Officer, said: “2020 presented the most challenging market conditions we have ever experienced. We also worked strenuously to maintain a sound financial profile, securing additional liquidity for the group with a new guaranteed term loan facility, and handling, to the best of our abilities, our net working capital requirements through a prudent reduction of our inventories and an effective and balanced management of our cash collection and payments activities.”

Safilo posts 8.9 percent rise in North American business

The company said, positive sales performance reflected the contribution to the group’s North American business of the recent acquisitions of Privé Revaux and Blenders Eyewear, for a total of 14.1 million euros and the improvement of Safilo’s organic business, down 3.6 percent at constant exchange rates, and almost flat at the wholesale business level, at negative 1.6 percent at constant exchange rates. Safilo’s organic online sales grew by 60.9 percent at constant exchange rates, driven by Smith’s D2C channel and by the group’s sales generated through internet pure players.

Safilo saw a rebound of the North American business, up 8.9 percent on an organic basis excluding the acquisitions and at constant exchange rates. Fourth quarter total net sales in North America were up 27 percent at constant exchange rates and 19.2 percent at current exchange rates. In Europe, however, net sales in Q4 fell by 18 percent at constant exchange rates and 16 percent at the wholesale business level and 19.4 percent at current exchange rates.

In Asia Pacific, quarterly net sales were up 28.1percent at constant exchange rates and 24.1 percent at current exchange rates, from negative 6.4 percent in Q3 2020, due to the strong acceleration recorded by the Chinese business, sales acceleration also in Australia. In the Rest of the World, sales were down 6.5 percent at constant exchange rates and 19.7 percent at current exchange rates, driven by the positive performance in the quarter of Brazil and Mexico and the first signs of a recovery materializing also in the Middle East countries.

Safilo’s full year net sales decline by 15.2 percent

Safilo closed 2020 with net sales of 780.3 million euros, down 15.2 percent at constant exchange rates and 16.9 percent at current exchange rates, due to the sharp decline suffered in the first half of the year following the severe lockdowns put in place by governments globally to fight the Covid-19 pandemic.

The company added that business rebound recorded by the group in the third quarter, followed by the positive net sales performance achieved in the fourth quarter allowed Safilo to post an H2 2020 net sales growth of 4.5 percent at constant exchange rates and 0.4 percent at current exchange rates, reaching 444.7 million euros.

In 2020, Safilo’s organic business, excluding the acquisitions, declined by 21.9 percent at constant exchange rates and 21.5 percent at the wholesale business level, while the contribution of the newly acquired Blenders Eyewear and Privé Revaux equalled 61.8 million euros for the full period of consolidation, with the two businesses together growing by 66 percent on a pro-forma performance basis due to the surge of their e-com activities. Safilo’s total online sales, including acquisitions, almost tripled compared to 2019, accounting for around 13 percent of the group’s total net sales.

Sales in North America grew 4.7 percent at constant exchange rates, after jumping 36.3 percent in H2 as a result of the full contribution of the acquisitions, and of the organic business rebound of 10.6 percent at constant exchange rates.
After a very difficult first half of the year, in 2020 the North American organic business declined 14.2 percent at constant exchange rates. Sales in Europe were down 25.9 percent at constant exchange rates, as trading activities remained weak also in the second half of the year, at negative 17.3 percent.

The company’s sales in Asia Pacific were down 20.9 percent at constant exchange rates. In the second half, sales performance in Asia Pacific rebounded, up 10.6 percent at constant exchange rates, due to a surging business in China and in Australia. Sales in the Rest of the World were down 32.6 percent at constant exchange rates.

2020 gross profit at 362.5 million euros, was down 24 percent, with the gross margin on sales declining to 46.5 percent from 50.8 percent in the previous year. Ajusted EBITDA at 1 million euros, was down 98.4 percent, while adjusted operating result was a loss of 54.3 million euros compared to the profit of 3.7 million euros recorded in 2019.

Image:Smith, Facebook

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GREYDER LAB AW21 Collection – Made of new innovative materials like cactus leather

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GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

YES, the sustainable footwear fashion brand of this moment GREYDER L A B has launched its first Fall/Winter collection! Although saying goodbye to summer comes a little too soon for some, many are also looking forward to combining their outfits again with different layers that include jackets, long pants and cool high boots of recycled materials from the GREYDER L A B brand!

The Fall/Winter Collection ’21 is about the ‘Class of the Future’. GREYDER L A B ‘s aim is to show and teach people how to make the world a little better and more sustainable, together, in a fashionable, funky and positive way. Where people are open to new things, chill with each other and laugh with each other. Where every single person can be themselves. To create something cool for each, in the most sustainable way by using materials such as cactus, PET-bottles fished from the sea, coffee waste, gym floors, recycled cotton, cork and sugarcane.

Upgrade your look and go for a new style with GREYDER L A B men’s high tops. In GREYDER L A B ‘s fall men’s collection, you’ll find a huge selection of sustainable materials, different colors and different styles. All to express yourself.

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

High-top JAKE

Say hello to JAKE, high-top JAKE. Of which the upper is made of a mix of Recycled Canvas and LWG leather, and the sole is made of Recycled Rubber and Coffee Waste. With its leather lining and comfortable removable Leather Working Group leather footbed, which is by the way implemented in every model, you not only create a winning style, but also walk mega comfy!

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

Images: White sneaker: BOB – Made of LWG-leather, Recycled TR and Recycled Cork
Red sneaker: VLAD – Made of Recycled Canvas, Recycled TR and LWG leather

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

Beige lace-boot: CARLY – Made of Recycled PET bottles and LWG leather

Boost your shoe collection with sustainable fashion of GREYDER L A B ’s collection of versatile women’s sneakers and boots for the new season. Whether you go for cactus material or LWG leather… From knee-high casual boots to chunky boots, and everything in between, GREYDER L A B’s new collection of women’s boots has something for everyone. Whether it is a chelsea or a high-knee boot, both look killer with tights with a cool dress or frayed jeans. Besides that, with every GREYDER L A B shoe they will invest in preserving nature with their GREYDER L A B Forest Fund. So, what are you waiting for? Greyder Lab’s new collection of women’s boots will nail your wardrobe!!

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leatherGREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

Meet Boot RUBY

A must-have for each women’s feet! The upper is made of Leather Working Group leather and Thermoplastic Rubber. And, because these eco boots are made on a basis of custom-made shoe lasts and because they have a removable Leather Working Group leather footbed, they give you excellent foot-support as well. Ruby is also available in gold, made from cactus.

Read more about GREYDER LAB on the brandpage: fashionunited.com/companies/greyder-lab

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Nilit partners with The Ocean Foundation

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Image: Sensil Facebook

Nylon brand Nilit has partnered with The Ocean Foundation on its Blue Resilience Initiative.

Joining The Ocean Foundation’s Blue Resilience Initiative, the collaboration aims to protect essential ocean meadows and other coastal habitats. According to Nilit, marine grasslands are being damaged at the rate of two football fields per hour. As important oceanic ecosystems, the grasslands help to reduce global warming by taking CO2 from the atmosphere.

Nilit, which also owns sustainable brand Sensil, has previously stated that protecting the oceans and reducing CO2 is part of its Total Product Sustainability Program. Recently, it reduced CO2 emissions at its main facility, and has utilised clean energy techniques at its manufacturing plants.

“NILIT and The Ocean Foundation can affect both sides of the ocean health equation and, together, make a more substantial impact on the well-being of our oceans and our planet,” said head of global marketing at Nilit, Sagee Aran.

The Ocean Foundation’s Blue Resilience Initiative focuses on coastal reconstruction and providing carbon offsets for foundations, corporations, donors and events. Its work notes the ecological and social impact that coastal areas have on the world, with man made infrastructure degrading nature’s natural defense mechanisms. The Blue Initiative seeks to restore and protect these coastal habitats.

“We are excited to join in The Ocean Foundation’s crucial work to protect the marine ecosystems that sustain life in the oceans and on land,” said Aran. “The Ocean Foundation investment, we have expanded our vision far beyond the traditional supply chain structure so that we can more rapidly and effectively bring about positive environmental impact.”

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Nordstrom and Nike partner with Black Owned Everything

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Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

Multibrand retailer Nordstrom has launched a partnership with marketplace Black Owned Everything, a platform promoting Black-owned businesses, and its founder Zerina Akers.

The collaboration sees Akers and Nordstrom come together on a curated selection featuring four Black-owned brands, displayed alongside new Nike and Jordan collections in the Nordstrom x Nike dedicated online space.

Labels included in the curation are William Okpo, Sammy B, L’Enchanteur and handbag designer Brandon Blackwood.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

“When we launched Black Owned Everything back in February of this year, partnerships like Nordstrom x Nike were exactly the type of activations I had in mind to amplify the reach of the Black designers whom I work with and mentor,” said Akers, in a release.

She continued: “This intersection of well-established brands and emerging designers is where the progress of Black Owned Everything’s mission takes place.

“The inclusion of these selected designers is a big step for their individual career paths and an even bigger step in the right direction for the American marketplace and beyond.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

“This curation is a fun mix of fashion and lifestyle pieces for the people who are keen to street trends and enjoy functionality.”

Simultaneous with the online presence of the collection, Black Owned Everything merchandise will also be available at four Nordstrom x Nike pop-ups in US-based Nordstrom stores.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
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