KEY FACTS VIDEO
Luxottica and Salvatore Ferragamo Renew Global Eyewear License Agreement for an Additional Three Years
30 Jan 2009 - 06:19 PM
Milan and Florence, Italy – January 30, 2009 – Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX), a global leader in premium fashion, luxury and sports eyewear, and Salvatore Ferragamo Italia S.p.A., parent company of the Ferragamo Group, a world leading player in luxury goods industry, announced today a three-year extension of the licence agreement for the design, production and worldwide distribution of prescription frames and sunglasses under the Salvatore Ferragamo brand. The new agreement will run through December 2011, with an option for a further two-year extension under the same terms.
Andrea Guerra, CEO of Luxottica Group, 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”.
“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” commented Michele Norsa, CEO of Salvatore Ferragamo.
The terms were substantially unchanged from those of the previous agreement.
Last updated: Jan 02 2014