MILAN — Givenchy has inked a renewable licensing agreement with Safilo Group effective Jan.1, 2016, and running through Dec. 31, 2021.
The Italian eyewear company will produce and distribute sunglasses and optical frames for the French couture and ready-to-wear house.
“Givenchy’s distinct and modern creativity has the potential to inspire unique eyewear creations of high quality and distinctiveness,” said Luisa Delgado, chief executive officer of Safilo. “Givenchy brings significant value to our portfolio, adding to our high-end premium segment a brand of unique character and significant size. It offers very interesting worldwide growth potential.”
“Eyewear is a fast growing category for Givenchy,” added Givenchy ceo Philippe Fortunato, lauding Safilo’s “unique end-to-end integrated best-in-class capabilities, high quality products and worldwide distribution with a brand-driven, long-term view.”
Safilo, which is listed on the Italian Stock Exchange, produces eyewear for brands ranging from Dior and Fendi to Céline and Jimmy Choo. It also owns the Carrera, Polaroid, Smith Optics, Safilo and Oxydo brands.
Safilo, due to release its 2014 financial results later today, is in the throes of change in the wake of Kering’s decision to take its eyewear production in-house. At present, Kering’s Gucci, Saint Laurent, Bottega Veneta, Alexander McQueen and McQ brands have licensing pacts with Safilo.
Givenchy, founded in 1952 and designed by Riccardo Tisci, is controlled by LVMH Moët Hennessy Louis Vuitton.