Thursday 31 July 2008

Safilo sees Gucci licence renewal "as soon as possible"

Italian eyewear maker Safilo expects to renew a licence with Gucci "as soon as possible", Vice Chairman and Chief Executive Officer Massimiliano Tabacchi said on Wednesday.

"The Safilo team and Gucci team are working together for the renewal ... we anticipate this renewal, it is a very important renewal for us," Tabbachi told analysts on a conference call.

"We expect to have this renewal as soon as possible."


Safilo H1 net falls, cuts 2008 forecasts

Italian eyewear maker Safilo (SFLG.MI: Quote, Profile, Research) reported a fall in net profit of more than a third in the first half of the year, hit by a weak dollar, and cut its 2008 forecasts because of weak European markets.

Safilo, whose brands include Armani, Dior and Gucci, said in a statement net profit fell to 21.1 million euros ($32.89 million) from 33.3 million euros a year ago. Net sales fell to 637 million euros from 667.8 million euros.

"We believe that the European market will continue to remain weak even in the upcoming months and we are therefore looking to the second part of the year with greater caution," Vice Chairman and Chief Executive Officer Massimiliano Tabacchi said in the statement.

Safilo cut its forecast for sales growth for the year to around 4 percent at constant exchange rates from a previous forecast of 7 percent to 8 percent.

It expects EBITDA at around 13.5 percent to 14 percent of revenues, down from a previous estimate of about 15 percent. Net profit should be 3 percent to 3.5 percent of revenues, down from a previous forecast of 4.5 percent to 5 percent.

WEAK DOLLAR

Safilo registers around 40 percent of its business in dollars, and said its performance was penalised by the "ever more marked weakness of the U.S. dollar."

At constant currencies, net sales rose 1.3 percent.

American sales saw double-digit growth at constant exchange rates with the consolidation of new retail stores and a chain in Mexico as well as the "good increase" in prescription frames and sunglass sales volumes in the wholesale business.

Asia saw double-digit growth, with "particularly brilliant results" in the Chinese and Korean markets. Spain, Britain and Germany were particularly hit by fragile consumer buying.

In Italy, results were in-line with last year. Safilo noted weak re-orders in Europe in May and June.

Safilo competes with Italy's Luxottica (LUX.MI: Quote, Profile, Research), to whom it lost a deal with designer Stella McCartney. Analysts say Luxottica's signing the McCartney brand, part of French group PPR (PRTP.PA: Quote, Profile, Research) which also owns Gucci, puts more pressure on Safilo to renew the Gucci licence.

Tabacchi said negotiations on this were going "pretty good."

"We expect to have this renewal as soon as possible," he told analysts on a conference call.

Safilo shares closed up 7.26 percent at 1.15 euros before the statement came out.

Sunday 20 July 2008

How to get dressed: Sunglasses

Lasting doom is upon us this summer. How do we know? The invasion of coloured sunglasses
Once in a while, an everyday item strays so far from its original functional purpose that one finds oneself wondering whether civilisation really has plumbed so far into the depths of decadence that only universal and lasting doom is left.

If that sounds a little melodramatic, not to mention alliterative, I’m afraid coloured sunglasses are to blame. By coloured, I don’t mean the various muted shades of tortoiseshell or black that used to pass for choice in the dim and distant past when Reason still held sway. And by sunglasses, I don’t mean the lenses, where colour may indeed serve a useful ophthalmic purpose. I mean the frames. For as you will have noticed – unless you have been fortunate enough to have spent what passes for our laughable summer on Pluto – red, yellow, green and, lawksamercy, pink sunglasses are the very height of fashion this year.

That’s progress for you: last year, we had the very silly-looking white sunglasses craze. This year, we have the completely stupid school of Bob the Builder, multicoloured, very plastic look. Which means that if spending half the morning co-ordinating your hair extensions with your vast collection of Birkins isn’t enough to fulfil you creatively as an artist, then you can at least bolt on another hour or two while you decide whether to match or clash your specs with your toenails.

Perhaps it’s the experimental nature of this display that in part explains the appeal of coloured sunnies. Or perhaps Ray-Ban just sent out loads of freebies. Either way, all the usual suspects have been turning out in support of this trend: Lily Allen in a lime pair, Paris in – surprise, surprise – a pink pair, Jessica Simpson in a red pair, Drew Barrymore and Sienna in white (must be a retro thing), and where they so fearlessly tread, others follow. Type “coloured sunglasses” into Google and the screen leaps to life with blogs from lesser mortals plaintively asking where they can get hold of cheaper versions (Topshop, for starters).

The funny thing is that while sunglasses are supposed to be the modern-day equivalent of a mask, the expression on all these coloured sunglasses wearers is all too blatantly apparent. It’s the “Hey, I don’t take myself seriously, you know; now where’s that assistant who wipes the gunk off my shoes?” look. If sticking your tongue out at paps wasn’t so 2007 and flicking a V for Victory wasn’t so 1945, they’d do that instead. So top marks for ingenuity. And A* all round, I suppose, for reacting to this rubbish summer with an utterly rubbish pair of sunglasses.

As for why mere mortals are buying them in packs, my extensive research suggests that they find the classic tasteful sunglasses of their mothers boring. That would be boring in the same way that Mies van der Rohe is boring. Oh well, they’ll learn.

Tuesday 15 July 2008

Hawaiian brand Maui Jim sashays into Europe


US. Maui Jim Sunglasses, the Hawaiian supplier of sports, fashion and classic sunglasses, has unveiled new frames featuring patented multi-layered PolarizedPlus2 lens construction, said to give unrivalled protection from UV and glare and excellent colour definition.

Kula, a stylish wraparound shield, has a single lightweight polycarbonate lens which has been coated to protect the eyes from direct, reflected and bounce-back glare. Broad temple design with strong silver alloy hinges and wide legs with a subtle stripe present a smart contemporary look. The rimless style has a robust and lightweight design.

Kula (style 514) is available in black with grey lenses, metallic copper with HCL bronze, or Sandstone with Maui Rose lenses. Fashionable white is one of the frame colourways on offer with the new Kaimana and Lehua sunglasses.

Kaimana (style 204) is a mid-size rectangular frame with SuperThin ST lenses which is available in black with grey, and green or brown with HCL bronze and well as white with Maui Rose lenses.

Lehua (style 203) is a rounded frame with wide temples for a fashionable look. Besides white, this frame comes in brown with HCL Bronze and black with grey ST lenses.

On display at the TFWA Asia Pacific show in May were the new Kapena (207) and Harbor (206) aviator shapes, both made from Monel metal for durability and adjustability with non-slip nose-pads and spring hinges.

The styles are available in gunmetal black frame with neutral grey lens or matte bronze with HCL bronze lens. Kapena has an unusual two-tone temple design and Harbor has a mottled pattern on one side of the temple and a solid colour on the opposite side.

The sophisticated new Peahi (202) style in lightweight, hypoallergenic nylon (cellulose propionate) also boasts SuperThin lenses and rectangular frame and clean masculine lines. It is offered in black with neutral grey lens or tortoiseshell effect with HCL bronze lens.

Left: The Kula wraparound shield style in copper and bronze. Right: The Kapena aviator shape with two-tone temple design

Progress in European and Americas travel retail

Following the 2008 IAADFS show in the Americas, Maui Jim has achieved new listings with independent retailers in Texas, St Kitts, Guyana and Uruguay.

The company has also entered an agreement with Gebr Heinemann starting with Mauritius Duty Free Paradise Co and expanding later to travel retail outlets in Europe.

At Aelia outlets in France, sales of Maui Jim Sunglasses in the first quarter were more than double last year's figure.

Meanwhile, at World Duty Free in the UK, the Maui Jim Sport collection has seen sales up +30% but the latest fashion models, including Palms and Bamboo, are also performing well, according to the company.

Kappé International introduced the Maui Readers bifocal reading sunglasses at Amsterdam Schiphol Airport and the response has been excellent, said the supplier.

After just three months of listings at Moscow Domodedovo Airport with Aer Rianta International, the brand was ranked the third most popular sunglasses label and listings in Kiev and Sheremetyevo Airports have followed.

Speaking of the brand's success in Europe, Maui Jim Sales Manager Duty Free Europe and Middle East Martine Larroque said: "We have launched a string of great new styles recently from retro-glamour girl frames to slick masculine lines and all with our unique patented PolarizedPlus anti-glare technology. Now the brand is really taking off in fashion-conscious Europe."

Thursday 10 July 2008

Love Your Sunglasses (Should I Know You?)

THE Ilori store in SoHo must be one of the only sunglass emporiums with a V.I.P. room. Lounging there with a flute of Moët, nibbling dark chocolate, shoppers can ponder just the right accessory to create the allure that they are Somebodies.

Will these Tom Ford wood-and-steel aviators convince onlookers that my natural habitat is the red carpet? Will Ralph Lauren’s $350 shades suggest I have stepped off a yacht in Edgartown?

To see for themselves, shoppers can peer into six full-length mirrors around the store, the better to coordinate their eyewear and their entire outfit. This is what appealed to Olivia Munoz, who was scrutinizing her image from head to toe recently while trying on the wares. “I’m beginning to love sunglasses as much as I love shoes and bags and jewelry,” said Ms. Munoz, 21, a student at the University of Mississippi. She added somewhat sheepishly, as if to justify her splurge, “It’s going to be my birthday.”

Ms. Munoz typifies the shopper who has diverted her spending from Stella McCartney tunics and Balenciaga totes into high-priced designer sunglasses. Ilori, a chain that also has stores in Los Angeles, Las Vegas and Honolulu, seems to have positioned itself perfectly in a season when statement sunglasses are one luxury that consumers are still willing to splurge on.

Prices for designer sunglasses have jumped to $350 or more in recent months, from an average of $250, retailers say, and the price spike has not turned off shoppers. “The youth of America has discovered sunglasses to be the aspirational and prestige item of the moment,” said Marshal Cohen, a senior analyst with the NPD Group, a market research firm. He predicts, “Sunglasses will replace the handbag as the image item” among teenage girls and young women.

While sales of handbags declined 14 percent in the last year, according to NPD, total sales in the $3 billion eyewear industry rose by 10 percent, even while the number of individual glasses sold has slackened — an indication there has been significant growth at the upper end of the market, Mr. Cohen said.

Why are designer sunglasses bucking the downturn of other luxury goods? Retailers and other fashion authorities cite It-bag fatigue (women have bought more bags in recent years than they can store in their closets), whereas sunglasses are still a novel way to acquire the cachet of a designer brand.

Sunglasses at the top rung of the price ladder are in step with trends, changing shapes and colors seasonally to reflect the whims of buyers. This summer, a heightened enthusiasm for aviator and wraparound frames and vintage Jackie O styles is contributing to their status as the luxury accent of the hour.

Designers are playing into shoppers’ desire to be recognized, at least by those in the know, by downplaying big logos and incorporating more subtle signals of provenance. Bottega Veneta offers frames with woven leather insets that are recognizable to connoisseurs of the house’s hand-woven leather goods. Prada butterfly frames echo the motifs of the brand’s recent runway collections. Chrome Hearts frames are embellished with sterling bolo designs and leather trim reflective of the company’s rough-rider image.

Such stealth-wealth signifiers appeal to Sylvia Toporkiewicz, a visitor from Poland, who was browsing late last month at the Sunglass Hut on Spring Street in SoHo. She weighed the hip factor of a pair of crystal-encrusted Versace frames against some equally costly but understated Ray-Ban glasses, choosing the Ray-Bans, because, she explained, “I don’t want to look Paris Hilton.”

She is among those turning their backs on ostentatious styling, and especially on the owlishly super-size frames popularized a few years back by Mary-Kate and Ashley Olsen, in favor of scaled-down rectangles in bi-colored plastic, imitation tortoise shell, wood, titanium or even gold.

Over all, “people are leaning towards the classics in rich materials,” said Richard Talmadge, the chief operating officer for Safilo, which makes Balenciaga, Jimmy Choo and Valentino eyewear. The company’s best sellers include Marc Jacobs aviators and television-screen-shaped plastic frames worthy of Anouk Aimée in “La Dolce Vita.”

The most coveted styles have a candidly patrician cast. “They look back to the 1970s,” said Jayne Mountford, a trend consultant in Los Angeles. “They represent the iconic look of the jet setter.”

In contrast to the ’70s originals, which made people seem aloof or anonymous, contemporary variations often feature gradient lenses that are tinted on top and clear below — a more approachable look.

“Sunglasses aren’t armor anymore — they’re not about saying don’t touch me,” said Ed Burstell, the vice president for cosmetics and accessories for Bergdorf Goodman in New York. Among the more rarefied labels at Bergdorf are Bulgari, Bottega Veneta, Alexander McQueen, Marc Jacobs, Chanel and Barton Perreira, a six-month-old brand coveted by aficionados.

In the fall, the store plans to expand its already large sunglasses boutiques by 25 percent. Bergdorf prices range from about $300 to $750 for a high-end tortoise-rim version of Ray-Ban’s Wayfarers, or $1,395 for frames from the brand Gold & Wood, which have diamond-studded temples.

Despite the price, Mr. Burstell described luxury sunglasses as relatively accessible to shoppers used to paying in the thousands for bags or dresses, a “fashion purchase that doesn’t break the bank.”

The demand for luxury sunglasses has spurred designers to quickly affix their logos to the latest styles, including some designers who had not previously had eyewear lines. The roster includes established giants like Tom Ford, Karl Lagerfeld and Giorgio Armani, and cutting-edge brands like Stella McCartney, Proenza Schouler and Thakoon, some offering wares for both women and men.

“Men have embraced sunglasses with a passion, and may even be driving sales,” said James J. Spina, the editor in chief of 20/20, an eyewear monthly. “Unlike men’s previous pet object, the watch, which half the time is covered by a sleeve, sunglasses are always visible, a kind of jewelry for the face. They give men an identity.”

Browsing at Ilori last month, Matthew Knoll, the owner of a catering company in New York, seemed inclined to that view. He was prepared to spend $400 or more for a distinctive look, he said, adding, “I don’t want to see my sunglasses on someone else’s face.”

Ms. Toporkiewicz continued to scour the Sunglass Hut for frames she hoped would compliment her steeply-angled cheekbones. She would be happy, she said, to spend $300 for a pair that gave her an old-fashioned Garbo-esque allure. “But if they are really nice,” she added, “I would pay any price.”

Monday 7 July 2008

Sunglasses not only a fashion statement

In very hot countries like Qatar where temperatures sometimes reach close to 50 degrees Celsius, wearing sunglasses is necessary, an eye expert told The Peninsula

People who are not aware of the importance of sunglasses think they are simply fashion accessories bought for their brand names and to make a style statement. But for the eye conscious, shades are considered a useful tool to counter serious eye problems.

"A person who does not wear sunglasses during very hot months over five years can develop cataract because of ultraviolet (UV) rays damaging the cornea (the clear front surface of the eye)," Irene Senga, an optometrist said. Excessive exposure to UV radiation can cause short-term and long-term ocular problems such as photokeratitis (a burn of the cornea), cataracts and various forms of eye cancer, Senga added.

She pointed out that a large number of youngsters nowadays are already using spectacles because of poor eyesight caused by lack of knowledge on proper eye care and abuse like spending too much time using computers.

Asked whether branded and expensive sunglasses are better than cheap ones, she said that there is no correlation between price and effectiveness of sunglasses. In fact an Australian based study suggested that consumers cannot rely on price as an indicator of quality, she added.

However, she said that the material used in making sunglasses matters, explaining that polarized ones are more effective and should be preferred since they could eradicate UV rays almost completely and could guard against powerful light and glare.

It really depends on what the person wants and how much he is willing to spend but he has to consider his eye's safety over money, she added.

Emphasizing on the significance of the eyes, she suggested other ways of taking care of them such as adequate eye rest, proper diet which includes fruits and vegetables and taking intermittent breaks while using computers.