Safilo Group announced Friday that it has reached an agreement to sell the U.S. retail chain Solstice to Fairway LLC, a U.S. limited liability company formed by a group of investors active in the U.S. and in the European eyewear retail business. The transaction is expected to be completed within the third quarter of 2019. Financial terms of the deal weren’t disclosed.

The sale of the Solstice retail business confirms the Group’s efforts to focus on its core wholesale business, and thereby marks a further key step in Safilo’s strategy of recovering a sustainable economic profile.