Luxottica and Versace Renew License Deal
The largest eyewear company in the world, Luxottica Group have extended their exclusive license with Versace. Therefore, for another 10 years, Luxottica (Lux) are responsible for manufacturing, development and distribution of the eyewear strand of the Versace brand. The new license agreement is starting on the 1st April 2020 and will continue to run until 31st December 2029. Both companies have a longstanding relationship. One that dates way back to 2003! And, we cannot wait to see what innovative designs are created during this decade. Versace sunglasses and Versace prescription frames are renown for their medusa head motif, and we don't anticipate this style changing one bit.
The news was announced at 8:00 am 10th April 2020. This is yet another announcement of a license renewal by Lux in 2020. Coming shortly after announcing renewing their agreement with Dolce and Gabbana . This is really exciting to see that Lux will continue to successfully work with some of our favourite brands.
What does the licence mean?
When it comes to designer eyewear, many of the brands we love have a license with Luxottica. Lux is a global conglomerate who are experts in eyewear. They design collaboratively with the brand, then manufacture, develop and distribute the lines across the globe. So, the agreement means both brands will work together, with Lux's expertise. Nobody else will be able to make sunglasses or glasses for Versace within this period. Then, authorized resellers or Luxottica brands, just like EyeWearThese, can sell their products. This helps us provide the latest high-quality products to you with a manufacturers warranty.
How did each business react?
As anticipated, both parties are delighted. The CEO of Lux, Francesco Milleri, announced he was pleased to renew the partnership. In the same statement, Milleri hints at unique collections to come. This tickled our taste buds over the prospect of some real statement pieces to come! Jonathan Akeroyd, CEO of Versace, said "Versace is delighted" over the new license agreement.
For those of you that are interested, you can read the full press release statement over at the Lux website.