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Safilo follows in the footsteps of Chanel and strengthens its supply chain investing in Lenti

By Angela Gonzalez-Rodriguez

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Business |ANALYSIS

Safilo SpA, the Italian luxury eyewear giant, has followed in the footsteps of Chanel in strengthening its network of providers with the acquisition of a 24.4 percent stake in the Italian glasses manufacturer Lenti.

With the new acquisition, Safilo becomes the new owner of the sunglasses manufacturer based in Bergamo, Italy, as it already owned 75.6 percent of the sunglasses manufacturer's equity. Safilo increased its stake in the company last April.

Safilo, a leader in the manufacturing and distribution of luxury eyewear globally, explained in a statement that the operation is part of its strategy to strengthen its presence in the market for sunglasses, where the group already owns the inventor of polarised lens, Polaroid, and Pop Smith Chroma Technology.

Lenti Srl produces lenses with graphics and decorative effects "imposed on the market, creating new trends in sunglasses and fashion," according to the statement of the Italian group.

Safilo follows the example of Chanel, Hermès and Loewe to integrate its supply chain

It should be noted that with this operation Safilo embarks itself on a quest pioneered by luxury segments champions such as Chanel, Hermès and Loewe, which have opted for greater control of their production and raw materials supply as an element of differentiation and ultimately, a guarantee of craftsmanship and sustainable manufacturing.

La Maison created by Coco Chanel announced last July the acquisition of a tannery in France, Megisserie Richard. The legendary French fashion house luxury stays true to fulfilling its integration strategy supply chain, having invested in recent years in buying French glove manufacturer Gausse in 2012 and the tannery Bodin Joyeux in December 2013.

Similarly, the also French Hermès acquired in July a minority stake in the upscale shoemaker Pierre Hardy. The founder and creative director of the eponymous footwear company has been designing footwear collections for Hermès since 1990, as well as jewelry since 1990.

Another company in the luxury sector that has also made a firm commitment to craftsmanship by investing in its suppliers and partners is Loewe, which for decades has relied on the expertise of Mallorca’s artisans.

Image: Safilo by Wanders Collection, Safilo Web

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