ITALY. Luxottica Group and Salvatore Ferragamo Italia, parent company of the Ferragamo Group, have renewed their global eyewear licensing agreement for an additional three years.
The agreement covers the design, production and worldwide distribution of prescription frames and sunglasses under the Salvatore Ferragamo brand. It will run through December 2011, with an option for a further two-year extension under the same terms.
The terms were substantially unchanged from those of the previous agreement.
Luxottica Group CEO Andrea Guerra commented: “The relationship with Salvatore Ferragamo started back in 1998 and it is thus one of the longest lasting licenses in our portfolio. We look forward to continue working together to develop new collections that leverage the quality and craftsmanship of “˜Made in Italy’ that distinguishes our products with clients and consumers alike around the world.”
Salvatore Ferragamo CEO Michele Norsa added: “We are very pleased with the renewal of the agreement with Luxottica, the most prestigious company in eyewear with whom we have been long-time partners. This relationship contributes to further expand our brand in the global luxury market.”
About Luxottica Group
Luxottica Group is a global leader in premium fashion, luxury and sports eyewear, with over 6,200 optical and sun retail stores in North America, Asia-Pacific, China, South Africa and Europe. Luxottica’s key house brands include Ray-Ban, the best known sun eyewear brand in the world, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tiffany and Versace.
The Group’s products are designed and manufactured in six Italy-based manufacturing plants and in two wholly-owned plants in China. In 2007, Luxottica Group posted consolidated net sales of €5 billion. Visit www.luxottica.com.
About Salvatore Ferragamo Italia
Incorporated in 1927, Salvatore Ferragamo Italia is the parent company of the Ferragamo Group, one of the world’s leading players in luxury goods. The group is active in the creation, production and distribution of shoes, leather goods, ready-to-wear, silk products and accessories, as well as fragrances for men and women. The product range also includes eyewear and watches, manufactured by licensees.
With about 2,700 employees and a network of over 550 mono-brand stores, the Ferragamo Group runs operations in Italy as well as in Europe, America and Asia.
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