Luxottica Group and Valentino S.p.A. announce a ten year license agreement
Milan (Italy), February 23, 2016 - Luxottica Group (MTA: LUX; NYSE: LUX), a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, and the Valentino fashion house, one of the highest expressions of savoir faire couture and Made in Italy excellence, announced today that they have signed a new and exclusive eyewear license agreement for the design, manufacture and worldwide distribution of Valentino eyewear.
The ten year agreement will be effective from January 2017. The first collection presented under the agreement will be available on the market from the beginning of the same year.
Valentino eyewear will embody timeless elegance of the fashion house, taking inspiration from ready-to-wear collections and accessories, in a perfect balance between tradition and innovation in full respect of the DNA and the iconic values of the brand.
"We are proud of this beautiful collaboration with Valentino, one of the most admired Italian fashion and luxury brands in the world", said Leonardo Del Vecchio, Chairman of Luxottica. "We share more than fifty years of tradition, style, innovation and love for our products that represent the highest expression of Made in Italy. Together we will create unique collections to express the wonder of Valentino’s style in eyewear throughout the world, and we will write a new history of great success".
"The agreement with Luxottica has a strategic value in the growth process of the brand. I believe that Luxottica is the ideal partner to develop a project of great quality and consistent with our brand values in high-end eyewear where we aim to replicate the success of our key product categories, including apparel and accessories. The great Luxottica’s expertise combined with the prestigious positioning of our brand are the best conditions to offer consumers a product that reflects Valentino’s coolness and style”, commented Stefano Sassi, CEO Valentino S.p.A.