EssilorLuxottica signs 10-year licensing agreement with Swarovski

FILE PHOTO: EssilorLuxottica at SILMO in Villepinte, near Paris

(Reuters) -EssilorLuxottica signed an exclusive licensing agreement with Swarovski Eyewear, the Franco-Italian eyewear maker said on Tuesday.

The collaboration’s first collection, to be developed under Swarovski’s creative director Giovanna Engelbert, will be available on the market from September next year, in time for the fall/winter 2023 season, the company, which also makes Ray-Ban glasses, said.

“We have always seen each pair of frames as a piece of art to be worn, which makes Swarovski and its story such a wonderful fit,” Francesco Milleri, chairman and CEO of EssilorLuxottica said in a statement, expressing his excitement for the “journey with Swarovski”.

The agreement, which Swarovski’s CEO Alexis Nasard said is in line with the jewels maker’s LUXignite strategy, will be effective until the end of 2028, with an automatic renewal option for additional five years.

(Reporting by Piotr Lipinski in Gdansk, Editing by Louise Heavens)

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