Italian eyewear company Safilo S.p.A whose portfolio of brands include Carrera, Polaroid, Smith, Safilo and Oxydo and the licensed branded collections of Dior, Fendi, Gucci, Banana Republic, Bobbi Brown and Boss is launching Dior eyewear collection in India later this year.
As the $1.2 billion Safilo looks at doubling its revenues from India in the next five years, it will eventually have full representation of its entire portfolio of close to 30 brands.
Currently, 17 of its brands are being retailed in the country through various retailers and distributors.
“India is an important country for us and we see great potential,” said Luisa Delgado, chief executive officer, Safilo who was in Mumbai to meet retailers and media on Monday. She added that business from India is currently not big at the moment, however the company is willing to invest and focus upon the country going forward.
Two months ago, India was included in Safilo’s Dubai-based Middle East and Africa operations, moving out of the Asia-Pacific region.
“This move has allowed us to give the region better support and more investments,” she said.
India, Middle East and Africa account for 10% of the company’s overall revenues and India will be an important part of this region, said Delgado.