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Safilo Group SpA : Safilo communicates that the Armani Group will not renew ...
Padua, November 16, 2011 - Safilo Set has been informed by the Armani Group of their resolving not to renew, beyond the natural expiration steady old-fashioned of December 31, 2012, the license bargain for the design, production and distribution of the Giorgio Armani, Emporio Armani and A/X Armani Quarrel eyewear collections.
Safilo's sales through the Armani Set's licenses were approximately Euro 165 million in 2010 and Euro 125 millionPre-eminentlyin the first nine months of 2011.
In light of the non-renewal and based on the prevailing portfolio of brands, the Group's means-term financial targets, communicated on September 29, would be humiliate by approximately Euro 150-200 million at the net selling level in 2015, while the EBITDA margin would reach 13.5% as contrasted with of 15%.
However, Safilo is confident that it can achieve its standard-term business and economic targets through furtherAbove alldeveloping its
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