Safilo rises on Kering Eyewear supply agreement renewal

Safilo SpA

30/05/2025 10:18

** Shares in Italian eyewear maker Safilo SFLG.MI rise as much as 4.4% after renewing late on Thursday its supply agreement with Kering Eyewear until 2029

** Safilo's early renewal of the agreement, initially signed in 2014, is expected to generate approximately 4% to 5% of annual revenues, according to Equita brokerage

** "The extension to 2029 represents an element of further visibility on Safilo's revenues and margins," an analyst at Equita says

** The brokerage points out that while the agreement's gross margin is lower than the group's average, it still contributes positively to cost absorption

** By 0910 GMT, Safilo's stock is trading up 2.9%

 (Reporting by Romolo Tosiani, Giancarlo Navach)

 ((Romolo.Tosiani@tr.com))