Safilo: Safilo is adding a new licence from 2014: Fendi
BUY, Fair Value EUR15 (-4%)
Yesterday Safilo announced the signing of a nine-year licensing agreement with the Italian brand Fendi (LVMH), which will start on 1st January 2014. After a first agreement signed with Essilor last month, this new licensing deal clearly demonstrates that Safilo is again benefiting from better prospects, particularly in its portfolio of licences (76% of sales). The coming of Fendi should have a positive impact of 5% on 2014e sales.
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