EssilorLuxottica and Michael Kors renew licensing partnership for a minimum 5 years

EssilorLuxottica (ESLOF.PK) and Michael Kors Wednesday said they have renewed their licensing partnership to develop and sell frames and sunglasses under the Michael Kors brand.

The renewal, which is for a period of 5 years with an option for 5-year extension, will be effective from January 1, 2025, when the current agreement expires.

The early renewal, coming almost a year before the expiration of the current agreement, is a testament to the strong confidence and collaboration between the two companies since 2015, EssilorLuxottica said in a statement.(DPA)