Leading sunglasses firm Luxottica Group SpA last Wednesday revealed it had won a 10-year contract to design, produce and distribute branded eyewear for Versace Group. The company said in a news release the worldwide license agreement is for Versace, Versus and Versace Sport sunglasses and prescription frames, with the new collections due to be launched in March.

The deal is expected to boost Luxottica's income by 90 million euros in the first twelve months. Financial terms of the details were not released. Donatella and Santo Versace, co-CEO's of Versace Group, said: "Luxottica Group is the ideal partner for Versace. Through this joint effort, we believe that the great potential of the Versace brand in the worldwide eyewear market will be fully realized."

Luxottica is the world leader in the design, manufacture, marketing and distribution of prescription frames and sunglasses in mid- and premium-priced categories. The Group's products, which are designed and manufactured in six facilities in Italy and one in the People's Republic of China, include over 2,250 styles in a wide array of colors.


Related news