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ITALY. Italian eyewear group Luxottica has signed an exclusive ten-year eyewear license agreement with US luxury goods company Michael Kors Holdings Limited. The agreement will allow Michael Kors to continue to expand its eyewear business globally, including in travel retail.
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The first collection produced with Luxottica will launch in January 2015 followed by the Michael Kors Collection and MICHAEL Michael Kors lines beginning in the spring of that year.
Both of these collections will be sold in selected travel retail locations as well as Michael Kors stores, department stores, independent local locations and Luxottica’s retail stores worldwide.
Michael Kors Chief Executive Officer John D Idol said: “We have achieved great success in the eyewear business and believe that our new partnership will further enhance our luxury image in the optical and sunglasses marketplace.
“Luxottica is the industry leader in eyewear through their commitment to design and quality which makes them the perfect partner for our luxury brand. Our eyewear business is an important component of the overall growth strategy as we continue our expansion around the world.”
Luxottica Group Chief Executive Officer Andrea Guerra said: “We are very excited and proud to be entering this new partnership with Michael Kors, one of the most powerful American luxury lifestyle brands in the world.
“Michael Kors has a major influence in fashion, with products that are exciting to luxury audiences globally. We believe that the Michael Kors’ brand proposition, its solid growth and strong performance across its segments, and its innovative fashion design fit perfectly within our portfolio. We are confident that this partnership will have great success.”
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