Growth for Sover: the next objective is the USA

Continued growth for Sover, the Belluno-based company that is one of the top ten in the eyewear sector. Its success is based on eyewear that has now become a cult object and has sparked off a desire to own various types. But fleeting temptations are affected by competition from low-cost countries, which can be overcome only by offering quality.

Sover is part of the group of the same name that was set up in 1962. It is headed by the Cannicci family and has about 300 employees, a production facility at Soverzene in Italy and three Eastern European commercial joint-ventures in Prague, Moscow and Bucharest. At the facility in Italy, over 3,000 frames are produced daily, a quantity that is constantly growing thanks to plant expansion and innovative techniques. Sover’s billings in 2007 totaled Euro 28 million, but it recorded an increase of 10% and 18% on the Russian and Romanian markets and the year-end figures were also reassuring for the Italian market. With exports of +39%, Sover Italy has more than exceeded the national average of 14.2% (source: Anfao).

The Group’s strength at international level is confirmed by two recently signed agreements: the first is with Hal, the world’s second-largest optics chain, which has just acquired 33% of Sover Optica Shop, and the other is with Marchon USA for the distribution of its own top brands in Russia. Over the years, and ahead of its competitors, Sover has also built up a sound network in Eastern European markets.

Currently, the company is aiming at Germany and France, areas in which it is developing rapidly thanks to a direct presence that cuts out intermediation. It started with an office in Paris and will continue soon with a similar structure in Germany. Sover also keeps a watchful eye on the United States, where it is gradually gaining significant space; an obligatory choice given that in 2007 the USA “absorbed” 27% of the sunglasses produced in Italy.

(Source: Finanza & Mercati)