Safilo: Renewal of the partnership with Fossil
BUY, Fair Value EUR16.5 (+3%)
Yesterday Safilo has announced the renewal of its partnership with the global consumer fashion accessories brand Fossil, which now runs until December 31st, 2018 instead of December 31st, 2013 initially. The recent news flow over the past few months (i.e. Essilor, Fendi, Marc Jacobs and now Fossil) demonstrates that visibility on the portfolio of licences (76% of sales) is definitely improving.
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