MILAN — Luxottica Group and Versace on Friday announced the early renewal of their license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Versace brand.
The 10-year renewal was effective April 1 and is set to expire at the end of 2029.
The partnership between the two companies dates back to 2003 and Francesco Milleri, chief executive officer of Luxottica, said the renewal would allow it to “continue to create unique collections that express the wonder of Versace’s style through eyewear around the world.”
Jonathan Akeroyd, ceo of Versace, touted the continuation of a “strong and successful partnership” with Luxottica.
Luxottica produces and distributes eyewear collections for brands ranging from Giorgio Armani and Chanel to Prada, Burberry, Bulgari and Valentino, and it owns labels such as Ray-Ban.