Safilo Group S.p.A. has announced the acquisition of the Polaroid Eyewear business.
Speaking of the acquisition, Roberto Vedovotto, Chief Executive Officer of the Safilo Group, said, “We are extremely proud of the completion of the acquisition of Polaroid Eyewear, a historical yet contemporary business which will contribute to achieving the full potential of Safilo by expanding its offering in the specialist market segment which promises considerable future growth.
“We have ambitious development projects for Polaroid, not only in Europe but also in those significant markets where the brand is currently under-represented and where the distribution network of Safilo Group will allow a prompt and solid expansion.
“With Polaroid on board, we also have the opportunity to increase our offer of polarised products, thereby strengthening the Group in a business area which is constantly growing and which allows for further enhancement of our eyewear collections, also in the fashion and diffusion segment for our own brands as well as for our licensed brands.”
Mr. Vedovotto said Polaroid will occupy an “important place” alongside the company’s brands Carrera, Safilo and Smits.
Polaroid Eyewear was founded in 1937 by the scientist and entrepreneur Edwin Land, who invented the first synthetic light polariser. That polariser is still the basis of all polarised eyewear, photo lenses, and screens manufactured today.
To celebrate its 75th anniversary, this year Polaroid released the new “Best under the Sun” Collection: a range of iconic sunglasses that recreate the most stylish models from the past and incorporate premium polarised lenses.