- Marjorie van Elven |
Safilo Group has added one more brand to its licensing portfolio: Levi’s. The eyewear giant, which makes sunglasses and prescription glasses for brands like Dior, Banana Republic, Kate Spade and Moschino, has scored a global licensing agreement to design, manufacture and distribute glasses for Levi Strauss & Co. The contract goes until November 2024, renewable for an additional five years, with the first collection set to hit stores in the Spring/Summer of 2020.
“With the Levi’s brand, we add an important opportunity to grow in the contemporary market segment, which is the largest for size and development potential and especially appealing for further development in key emerging markets, such as China”, said Angelo Trocchia, CEO of Safilo Group, in a statement.
Also commenting on the partnership, Karyn Hillman, Chief Product Officer at Levi Strauss & Co, said: “eyewear is an important product category for the Levi’s brand. Our partnership with Sagilo will allow us to further strengthen our position as a true lifestyle brand”.
With net revenues of almost 5 billion US dollars in FY 2017, Levi Strauss & Co is present in over 100 countries with the brands Levi’s, Dockers, Denizen and Signature by Levi Strauss & Co. Its products are sold by a network of 2,900 branded stores and shop-in-shops, as well as by chain retailers, department stores and online shops.
Founded in Italy in 1878, Safilo has subsidiaries in 40 countries and 50 distribution partners around the world to make sure its eyewear products reach over 100,000 stores. The company recorded 1,047 million euros in revenues in 2017.
Photo: Safilo Facebook