Safilo sells Solstice retail business to Fairway

Safilo Group has announced the sale of the US retail chain Solstice to Fairway LLC, a US limited liability company, formed by a group of investors active in the US and in the European eyewear retail business.

The company said in a statement that the transaction is expected to be completed within the third quarter of 2019 and that the sale confirms the group’s efforts to focus on its core wholesale business, and thereby marks a further key step in Safilo’s strategy of recovering a sustainable economic profile.

Safilo had acquired Solstice business in 2002.