SAN DIEGO – Today Blenders Eyewear announced the acquisition of 70 percent of its company’s equity by Safilo Group – a global eyewear leader with well-known consumer brands like Smith Optics, Carrera and Polaroid Eyewear.
“It’s time to bring the Blenders brand global and Safilo’s expertise, access and influence will help us get there,” said Blenders Founder and CEO Chase Fisher. “We’ve worked tirelessly to upend this market and bring a new price point to the consumer effectively and efficiently. We hit a chord, and we can now expand to new markets, new customers.
Safilo Group acquires a majority stake in Blenders Eyewear, an e-commerce disruptor valued at $90 million.
“We are thrilled to welcome to Safilo an inspiring brand like Blenders Eyewear, a fast-growing e-commerce-powered business at the forefront of the latest direct to consumer and omni-channel capabilities, which will enrich our proprietary portfolio with new strong skills and a particular focus on our key US market,” said Angelo Trocchia, Safilo’s Chief Executive Officer.
Founded in 2012, Fisher grew the company working as a surf coach and selling sunglasses from a backpack to a dominant eyewear brand, projecting $42 million in revenue in 2019. The company has been profitable since its inception, has grown a devoted loyal base in Southern California and among West Coast surf communities, and was among the first to leverage social media marketing effectively. Blenders is valued at $90 million.
Fisher, who retains 30 percent interest in the company, will remain CEO and work closely with Safilo Group’s managing directors to enhance production efficiencies and broaden distribution plans. Blenders Eyewear’s financial advisor is The Sage Group, LLC, and its legal advisor is K&L Gates LLP. The Safilo Group’s legal advisor is Paul, Weiss, Rifkind, Wharton & Garrison LLP.”
“We are super excited to have developed a relationship with Chase,” said Sage Group LLC Managing Director Paul Altman. “He is a classic entrepreneur whose business instincts and relentless drive to win have, with his team, made Blenders the success it is today. We are thrilled with the Company’s growth and level of ambition, and look forward to watching the brand continuing to ascend alongside an industry powerhouse.”
Blenders works with an impressive roster of athletes including Pro Surfer Lakey Peterson, Pro Snowboarders Cam FitzPatrick and Jessika Jenson, and more. For more, visit BlendersEyewear.com.
The Sage Group served as exclusive financial advisor to Blenders.