Safilo sales up 1.6 percent in third quarter

Net sales reached 227.5 million euros, up +1.6 percent at constant exchange rates for Safilo Group S.p.A. (Safilo) in the third quarter. Net sales for the first nine months stood at 739.4 million euros (824 million dollars), down -0.9 percent at constant exchange rates. According to a company statement, a recovery in North America offset greater weakness in Europe. Carrera, Smith, Kate Spade, David Beckham and Boss remained the main drivers of brand performance.

Today, the board of directors of Safilo reviewed and approved the key performance indicators for the third quarter and the first nine months of 2026.

“The third quarter marked an improvement in our sales performance, confirming the positive signs we began to observe towards the end of the first half and in July. North America showed clearer signs of recovery thanks to the gradual stabilisation of market conditions in certain channels. Meanwhile, in Europe, the environment remained more challenging for sunglasses in some key markets,” noted Angelo Trocchia, chief executive officer of Safilo, in the statement.

“As anticipated, we have started to accelerate investments in our core brands and our digital infrastructure. These initiatives, which will gain greater prominence in the fourth quarter, aim to strengthen the visibility of our brands and support our customers in a market environment that remains uncertain and volatile,” the CEO added.

In the statement, Safilo also announced that today, November 10, it entered into an agreement with Multibrands Italy B.V., the company's reference shareholder, and CEO Trocchia, governing the renewal of his mandate as chief executive officer of the company for a further three-year term. “Under the agreement, Multibrands Italy B.V. has undertaken to confirm Trocchia in the role of director and, subsequently, chief executive officer of Safilo,” the press release specifies.

Italy, Spain and Turkey confirmed among most dynamic markets in Europe

Returning to the figures, in Europe, third-quarter 2026 sales stood at 87.9 million euros, down 3.1 percent at constant exchange rates and 3.3 percent at current exchange rates. Performance in the region continued to be affected by pockets of weakness in markets that had driven growth in 2025, as well as the progressive reduction of the supply business.

In France, the contraction of the sunglasses market was partially offset by the group's strong performance in prescription frames. Meanwhile, in Germany, the decline in the sunglasses segment was concentrated in the internet pure-player channel, against greater resilience among independent opticians and major chains.

Italy, Spain and Turkey remained among the most dynamic markets in the region. This was driven in particular by the positive performance of Carrera, David Beckham, Carolina Herrera, Isabel Marant and Polaroid.

In the first nine months of 2026, sales in Europe stood at 328.4 million euros, down 1.2 percent at constant exchange rates and 1.7 percent at current exchange rates compared to the same period in 2025. In North America, third-quarter 2026 sales reached 104.4 million euros, up 5.6 percent at constant exchange rates and 7.7 percent at current exchange rates compared to the same period in 2025. In the first nine months of 2026, sales in North America stood at 310 million euros, up 1.1 percent at constant exchange rates and down 2.5 percent at current exchange rates compared to the first nine months of 2025.

In Asia-Pacific, third-quarter 2026 sales stood at 14.2 million euros, down 1 percent at constant exchange rates and up 2.6 percent at current exchange rates compared to the same period in 2025. “Despite a challenging market environment, China returned to growth, supported by commercial activities linked to the Beijing optical trade fair. Australia maintained a positive trend, while markets managed through distributors remained weaker,” management highlighted.

In the third quarter, gross profit reached 148 million euros, up 12.3 percent compared to 131.7 million euros in the third quarter of 2025. The gross margin increased by 530 basis points, rising from 59.7 percent to 65 percent. It benefited by 210 basis points from the aforementioned duty refunds, and by 320 basis points from ongoing favourable price/mix effects, combined with a positive year-over-year impact resulting from the reduction of duties.

In the first nine months of 2026, gross profit stood at 491.9 million euros, up 7 percent compared to 459.9 million euros in the first nine months of 2025. The gross margin increased by 590 basis points, from 60.6 percent to 66.5 percent, benefiting by 320 basis points from duty refunds and by 270 basis points from favourable price/mix dynamics, as well as a lower impact from duties starting from the second quarter.