2016 closed on a low note for Safilo as it prepared for the loss of major business with Kering's Gucci and the prospect of LVMH getting closer to rival Marcolin raised the chances of future problems too.
Italy's Marcolin will design and manufacture eyewear for Celine and Louis Vuitton brands from 2018 as part of a joint venture it agreed with LVMH, with an aim to become the luxury group's preferred glasses partner.
Italian eyewear group Safilo can make up for the potential loss of design-to-distribution deals with French luxury group LVMH with new licences and by expanding its own brands, its chief executive said on Friday.
Luxury label Jimmy Choo is upbeat after another year of record revenue. Revamped stores, online expansion, licensing growth and a good response to men's product all boosted 2016, despite tough times for luxury.
Shares in the Italian eyewear maker fell more than 15 percent on Thursday after reports surfaced that French luxury group LVMH was set to take a 10% interest in unlisted Italian spectacle competitor Marcolin.