Italian eyewear giant Safilo group has made the decision to end its licensing agreement with British brand Jimmy Choo for the design, production, and distribution of their eyewear collection. The agreement, which has been in place for an undisclosed period of time, is set to expire on December 31st of this year and will not be renewed.
While no specific reason was given for the termination of the deal, both Safilo and Jimmy Choo have indicated that they will continue to work together until the end of the agreement. This suggests that the decision was likely a result of a strategic shift or a desire to explore other opportunities in the market.
Safilo, which holds a large portfolio of licensed brands, does not have existing deals with the other two brands under Capri Holdings – Michael Kors and Versace. However, the company does have partnerships with several other well-known brands such as Banana Republic, Boss and Hugo, Carolina Herrera, Chiara Ferragni, Dsquared2, Etro (starting from 2024), Eyewear by David Beckham, Fossil, Isabel Marant, Levi’s, Love Moschino, Marc Jacobs, Missoni, and Tommy Hilfiger.
In addition to the termination of the Jimmy Choo deal, Safilo has also revealed that it is currently in advanced negotiations with Thelios SpA regarding a potential transfer of its Longarone plant. Thelios SpA, a six-year-old eyewear specialist that is part of the prestigious LVMH Group, is known for its expertise in the industry.
The potential transfer of the plant to Thelios SpA would allow Safilo to retain the plant’s valuable know-how and a significant number of its employees. This move reflects Safilo’s commitment to minimizing any potential negative impact on the local community and the overall industry. The negotiations surrounding this transfer are part of a broader effort by Safilo to implement measures that prioritize social responsibility and sustainability.
In conclusion, Safilo’s decision to end its licensing agreement with Jimmy Choo has been met with interest and speculation within the industry. As the company continues to navigate these changes, the negotiation with Thelios SpA regarding the potential transfer of the Longarone plant demonstrates its commitment to responsible business practices.
Useful links:
1. Jimmy Choo Official Website
2. Safilo Group Official Website
