Safilo, the renowned Italian eyewear manufacturer, has recently announced the extension of its pivotal licensing agreement with the esteemed French luxury conglomerate, Kering, for an additional three years. This partnership enables Safilo to maintain its role as the exclusive producer and supplier of Gucci-branded eyewear products. The collaboration between Safilo and Kering initially commenced following the termination of Safilo’s original license for Gucci when Kering opted to establish its own eyewear division. The current agreement is scheduled to conclude in December 2020, with the new three-year contract slated to commence in January the subsequent year.
The market reacted positively to the news of the contract renewal, as Safilo’s stock surged by nearly 12% upon the announcement. Speculations were circulating earlier in the week regarding Kering’s potential interest in acquiring Safilo. However, with the renewed license secured, Safilo can expect to uphold its successful partnership with Kering and continue delivering top-notch Gucci eyewear products for the foreseeable future.
The enduring collaboration between Safilo and Kering exemplifies the strength and longevity of the partnership between these two industry powerhouses. Safilo’s expertise in eyewear manufacturing combined with Kering’s luxury brand ethos has yielded a prosperous alliance that has thrived over numerous years. The renewal of this agreement reaffirms their dedication to joint efforts in offering consumers the finest Gucci eyewear selections.
In summary, the extension of the licensing agreement stands as a significant milestone for both Safilo and Kering. It permits Safilo to sustain the production of Gucci eyewear, a pivotal revenue source for the company, while fortifying the bond between the two entities. With the fresh three-year deal in place, Safilo and Kering are poised to continue their dominance in the luxury eyewear market, paving the way for continued prosperity.
For more information on Safilo and Kering, please visit their official websites at Safilo and Kering.
