Luxottica Group and Burberry renew eyewear license agreement
Milan (Italy), 29 July 2015 - Luxottica Group (MTA: LUX; NYSE: LUX), a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, and Burberry Group (LSE: BRBY), the global British luxury brand, today announced the renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Burberry name. The 10-year agreement will extend to December 31, 2025.
Christopher Bailey, Chief Creative & Chief Executive Officer of Burberry said: “I am delighted that we will continue to work with Luxottica under this new agreement. Eyewear is an exciting area of our business combining great design with fine craftsmanship in much the same way as many of our iconic products. We look forward to continuing to partner with the industry leader in eyewear, to further unlock the potential of our two brands.”
“We’re incredibly pleased to renew our partnership with Burberry,” said Adil Khan, Luxottica’s CEO of Markets. “When we came together ten years ago, we set out to translate one of the world’s most iconic luxury brands for the eyewear category and the results have been very gratifying. Burberry will continue to play an important role in our brand portfolio and we look forward to continuing to innovate and craft beautiful products together in the years ahead.”
The most recent eyewear collection from Burberry, The Gabardine Collection, takes its inspiration from Burberry’s iconic gabardine fabric. First invented by the company’s founder Thomas Burberry in 1879, the lightweight and protective gabardine cloth is woven at the Burberry Mill in Yorkshire for the brand’s heritage trench coats.