MILAN — Roberto Cavalli and Italian eyewear maker Marcolin SpA said Monday they have renewed the license to globally produce and distribute sunglass and prescription frames branded Roberto Cavalli and Just Cavalli until Dec. 31, 2015.
The license was set to expire at the end of December 2010. The partnership between the two firms dates to 1999 for the signature branded collection, and to 2005 for the Just Cavalli label.
The companies said that the license renewal marks the designer’s 40th anniversary next year. To celebrate the milestone, Marcolin and Cavalli said they are “working at an ambitious development plan…to seize new and further growth opportunities.”
Maurizio Marcolin, style and licensing officer of the Longarone, Italy-based eyewear firm, said the companies’ “growth strategy…foresees a further evolution in the product research and development area, the strengthening of distribution in key markets and a strong and emblematic communication of the Maison’s image and DNA.”
Cavalli said the license has helped develop accessories that capture “the Cavalli look, a perfect combination of high quality and unmistakable style.”
After the announcement, shares of Marcolin, which is listed on the Milan Stock Exchange, rose 3.56 percent to 1.51 euros, or $2.16 at current exchange rates.
The company, which last year produced and distributed about 5.5 million pairs of glasses in more than 600 different models, also operates licenses for brands including John Galliano, Tod’s, Hogan, Tom Ford, Kenneth Cole, Dsquared, Miss Sixty, Ferrari, Replay and Cover Girl.
In 2008, Marcolin reported net profits of 6.1 million euros, or $9 million at average exchange rates, after three years of losses. In November, the company said it expected to remain profitable in 2009. Last year, revenues reached 186.8 million euros, or $274.8 million.