FINANCE

Armani Group and Luxottica sign exclusive license agreement

On completion of the distribution stage, annual billings from the license are expected to exceed 200 million euros

The Armani Group and Luxottica Group S.p.A. announced that they have signed an exclusive license agreement for the design, production and worldwide distribution of the sun and vision collections with the Giorgio Armani, Emporio Armani and A/X Armani Exchange labels.

 

In accordance with current market conditions, the ten-year agreement will come into effect January 1, 2013. The first collection will be presented during 2013.

 

Luxottica expects strong growth for the Armani collections: on completion of distribution to the markets and distribution channels, annual billings from the Armani license could exceed 200 million euros.