Armani Group and Luxottica sign exclusive license agreement
Armani Group, one of the leading fashion and luxury goods groups in the world, and Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a global leader in the eyewear sector, announce that they signed an exclusive license agreement for the design, manufacturing and worldwide distribution of sun and prescription eyewear under the Giorgio Armani, Emporio Armani and A/X Armani Exchange brands.
The 10 year license agreement, incorporating market conditions, will begin on January 1, 2013. The first collection will be presented during 2013. Armani eyewear is expected to generate strong growth, with annual sales targeted to exceed €200 million annually, after the initial launch period and once distribution has been fully rolled out across key geographies and channels.