30% growth for Belluno-based company Sover

Sover, the leading company in the eyewear sector based at Soverzene in the province of Belluno and the license holder for Alviero Martini, Mariella Burani, Baldinini and Kiton products, ended financial year 2006-2007 on June 30 with billings of 26,550 million Euros that were in line with the company's forecasts.

The result was an increase of 30 percent compared to last year, with Ebitda of 4 million Euros and plus 29 percent for exports. Development in Italy was 34 percent. Specifically, the Sover Group has a sizeable share of the market outside Italy and increases were considerable in Russia, over 23 percent, and in Romania, over 30 percent. Sover has been in these areas since 1993 with two commercial joint-ventures in Moscow and Bucharest in addition to Prague.

Compared to last year, the analysis of exports showed excellent performance on the German market, with points upward of 90 percent, and in France, with over 53 percent; this was also due to the recent opening of a commercial office in Paris. As regards new foreign markets, Sover has invested heavily in the United States, where its distributor ensures that Sover products are available in the best outlets throughout the States.

Also in line are the company's forecasts for 2007. An analysis of the trend during the first months of the year indicates that further growth of 20 percent can be expected for this year. Sover signs the vision and sun eyewear collections for Alviero Martini, Mariella Burani and Baldinini and during 2007 it also added Kiton, the prestigious Neapolitan menswear company; the first Kiton glasses will be presented at Mido 2008.

'Sover's positive results were achieved thanks to a farsighted acquisition policy and careful qualitative choices aimed at an ever-changing market. In particular, the figures for 2006-2007' said Sover marketing manager Stefano Cannicci, 'underscore a very positive sales trend, especially for the 1a Classe Alviero Martini and Mariella Burani lines, thanks to the introduction of a new concept of Italian luxury that involves artisan workmanship and the use of living materials like pony and gemstones. We also expect early alignment with the Baldinini collection which made its debut at Mido last May and covers the topmost segment of our consumers'.

Sover chief executive Vittorio Cannicci pointed out that 'The Sover Group's strategy will be to strengthen its share of the French, German and Spanish markets through direct distribution, and to consolidate its position of leadership in eastern Europe by developing retail in Romania, where the Sover Optica Shops will allow better management of the area and where we aim to open thirty outlets by 2008'.

During the same financial year, the number of employees also increased to over 300, eighty of whom work in the facility at Soverzene and the remainder in Romania, Russia and the Czech Republic. Total production capacity was in excess of 800 thousand items a year.