The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Safilo’s shares rose more than 14 percent on Monday after the Italian eyewear group signed a multi-year licensing deal with Chiara Ferragni to design, make and distribute the first eyewear collection under the Instagram trend-setter’s brand.
The full range, including optical and sunglasses, will come to the market in January 2022, Safilo said in a statement.
The collaboration with Ferragni, a 34-year-old Italian digital entrepreneur with almost 25 million followers on her Instagram account where she shares fashion and style advice, is meant to help Safilo in its digital strategy and in its bid to reach younger clients.
“It represents a perfect fit in our brand portfolio and a significant opportunity for us to grow in the contemporary segment,” Safilo CEO Angelo Trocchia said in the statement.
Working with Ferragni has boosted other Italian fashion stocks in recent months.
Tod’s shares jumped in April when the luxury shoemaker added her to its board as part of efforts to win over younger shoppers, and the stock’s market capitalisation more than doubled in the following two months.
“After Tod’s, the market has become accustomed to the fact that any deal involving Ferragni is positive news and people are rushing to buy,” a Milan-based trader said.
By Reuters Team
Learn more:
Chiara Ferragni to Join Tod’s Board of Directors
The Italian influencer and entrepreneur’s “knowledge of the world of young people will be extremely valuable” to the maker of suede driving loafers and Roger Vivier heels, Tod’s president Diego Della Valle said in a statement.
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The sportswear giant’s lifestyle and fashion division is set to release a new campaign and “visual identity” to emphasise the cultural cachet of its Samba, Gazelle and Superstar sneaker franchises.
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M and Zara-owner Inditex when they issue business updates this week.