Armani Group and Luxottica moving towards a license agreement
The first collection could be presented during 2013
Armani Group, global leader in the fashion and luxury industry, and Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the eyewear sector, today announced that a Letter of Intent has been signed which is preliminary to an exclusive license agreement for the design, manufacturing and global distribution of sun and prescription eyewear under the Giorgio Armani, Emporio Armani and A/X brands, beginning January 2013.
“Back in 1988 Giorgio Armani and Luxottica started a very successful journey together: together we changed the world of eyeglasses which, previously perceived as mere functional instruments, evolved into “eyewear” and into indispensable fashion accessories.
Armani is eponymous of excellence of Made in Italy and represents values which are perfectly in line with ours. We are therefore excited to work together again, in a partnership that will for sure be mutually beneficial,” commented Andrea Guerra, Chief Executive Officer of Luxottica.
The Letter of Intent, which is not binding, is preliminary to the signing of a 10 year license agreement, which will envisage market conditions and will begin on January 1, 2013. The first collection could be presented during 2013.