Safilo Group announces the acquisition of a 70% stake in the equity of the California company Blenders Eyewear LLC (the “Company”). Safilo Group purchased the stake from the company’s founding entrepreneur and full owner.
Founded in San Diego in 2012 by Chase Fisher, Blenders Eyewear has built an advanced e-commerce platform with unique digital and social media skills, which has achieved fast and profitable growth thanks to its world-class digital capabilities. The Company generates approximately 95% of its current business through its proprietary direct-to-consumer e-commerce platform, more recently complemented by the
opening of the first Blenders flagship store in San Diego.
Blenders Eyewear’s products are inspired by the California active and progressive lifestyle and offer a compelling price-to-value eyewear proposition, particularly appealing to a broad range of consumers with a focus on Millennials and Generation Z, both female and male.
The brand, profitable since its inception and with strong current profitability, has fuelled its rapid growth through highly effective social marketing strategies, partnering with influencers, athletes, lifestyle enthusiasts, and product collaborations which have driven sales and brand awareness.
In 2019 the Company expects to reach profitable net sales of approximately USD 42 million, all generated in the United States and up around 40% compared to the previous year and with a 3-year CAGR of 175%.
Angelo Trocchia, Safilo’s Chief Executive Officer, said: “We are thrilled to welcome to Safilo an inspiring brand like Blenders Eyewear, a fast-growing e-commerce-powered business at the forefront of the latest direct to consumer and omnichannel capabilities, which will enrich our proprietary portfolio with new strong skills and a particular focus on our key US market.
Blenders is a disruptive, digitally native business model, founded on the principle of providing high-quality lifestyle and active eyewear, at affordable prices and with engaging brand content. A strong proposition rooted in a rapid expansion of brand awareness among its natural, fast-growing customer audience of Millennials and Generation Z. Blenders is entrenched in today’s social sphere and is experiencing significant social media success.