EYES ON VALENTINO: The five-year eyewear license between the house of Valentino and Luxottica Group will end on June 30, the two companies said at the end of trading in Milan on Wednesday.
Luxottica has been producing and distributing prescription frames and sunglasses worldwide for Valentino under an agreement that went into effect in January 2017.
Marchon produced Valentino’s eyewear before Luxottica. Valentino did not immediately reveal its plans for the future of the brand’s eyewear category.
In addition to Luxottica, Valentino has only one other license, for beauty and fragrances with L’Oréal. The Rome-based couture house launched the Voce Viva fragrance fronted by Lady Gaga last September and a makeup line in June.
As reported, accessories helped drive Valentino’s business in the first half, with revenues showing an increase of 64 percent to 574 million euros, compared with 362 million euros in the same period last year, and almost flat compared with 2019. The growth in the first half was driven by online sales, the Middle East, U.S. and Greater China regions.
Luxottica produces eyewear collections for brands ranging from Giorgio Armani and Burberry to Chanel, Prada, Ralph Lauren and Versace.
In 2018, Luxottica merged with France-based Essilor in a 46-billion-euro merger, forming EssilorLuxottica.