Luxottica Group and Bvlgari have announced the early renewal of their exclusive licence agreement. The renewal begins on 1 January 2021, immediately following the expiration of the existing agreement.
The renewed agreement gives Luxottica Group the licence to develop, produce, and distribute Bvlgari’s sunglasses and prescription frames until 31 December 2023.
The parties stated that the early renewal is testament to the strength of their ongoing collaboration, which began more than two decades ago. They also said the renewal expresses the pair’s positive outlook in jointly seizing new and exciting opportunities within the sunglasses category.
Luxottica Group Executive Chairman Leonardo Del Vecchio commented: “This is a meaningful renewal for Luxottica. We have more than 20 years of positive collaboration between us, and a bright future still in front of us.
“Together we can continue to shape the luxury eyewear market, with jewel-like eyewear, admired and desired all over the world.”
The sentiment is echoed by Luxottica Group Global Travel Retail Director Enrico Destro. He said: “Bvlgari is a key focus for Luxottica in travel retail. We have been expanding this iconic brand in the channel with a particular focus on Asia Pacific, including opening new horizons with our marketing activity.
“Our Bvlgari Chinese New Year 2019 campaign with CDFG-Sunrise is a good example of this. With the news of Luxottica’s renewed licence for the brand, we look forward to continued partnerships, growth and success of the luxury segment in the sunglasses category.”
Bvlgari CEO Jean-Christophe Babin commented: “We are happy and proud to extend our partnership with Luxottica for the coming years. In the next three years we expect qualitative growth of our eyewear category with an enhanced client experience and further developments in the major existing and emerging markets, especially in Asia and the USA.”
