Safilo Acquires DTC Sunglass Brand Blenders
Smith parent company Safilo has acquired Blenders Eyewear, a fast-growing sunglass and goggle brand with roots in surfing and in active lifestyle.
Blenders is mostly a direct-to-consumer business, which accounts for 95% of sales and is driven by the brand’s social media prowess.
Chase Fisher founded Blenders in 2012 while working as a surf coach and selling the glasses from his backpack.
The brand is projected to reach $42 million in revenue in 2019, up 40% vs. last year and has had a compounded annual growth rate of 175% in the last three years.
The transaction values the company at $90 million.
Fisher will retain a 30% interest in Blenders and will remain CEO.
Safilo said it particularly likes Blenders’ digital and social media expertise, and that the brand’s price points appeal to a broad range of consumers with a focus on Millennials and Generation Z, both female and male.
Price points range from $35 to $65 for sunglasses and $40 to $95 for goggles.
“With Blenders, we aim to foster and accelerate our e-commerce and omni-channel strategy, leveraging the digital DNA and proven capabilities of the brand and putting Safilo’s global capabilities at its disposal to enable global expansion of the brand,” said Angelo Trocchia, Safilo’s Chief Executive Officer.
Fisher, the sole owner, said he is looking forward to working with Safilo to enhance production efficiencies and broaden distribution.
“This marks a huge step forward for Blenders and we’re excited to be part of Safilo to reach a wider marketplace,” he said. “Safilo’s product know-how and global distribution capabilities are the perfect complement to our digitally native business model, opening up worldwide expansion potential. We’re on a mission to build a thriving global community that inspires people to live in forward motion.”
Blenders sponsors athletes in the action sports space including surfer Lakey Peterson and snowboarders Cam FitzPatrick and Jessika Jenson.