Safilo Group S.p.A. announces the completion of the acquisition of the Polaroid Eyewear business, a world leader in optics and polarized lens technology and a global eyewear manufacturer and distributor, with a strong and recognizable market positioning.

Roberto Vedovotto, Chief Executive Officer of the Safilo Group, commented: "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 polarized 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.

Polaroid will occupy an important place alongside our other important own brands Carrera, Safilo and Smith, allowing us to continue with determination in the medium-long term growth strategy we have identified for the Group.”

Polaroid commemorates its 75th anniversary this year.