• EssilorLuxottica and the Armani Group announce 15-year licensing renewal

    Source: Nasdaq GlobeNewswire / 14 Sep 2022 02:00:00   America/New_York

    EssilorLuxottica and the Armani Group
    announce 15-year licensing renewal

    The renewal, four months ahead of the deadline, of the current agreement is a sign of
    trust and continuity in the late Chairman Leonardo Del Vecchio’s vision

    Charenton-le-Pont, France and Milan, Italy (14 September 2022 – 08:00 am CEST)- EssilorLuxottica and the Armani Group announced today the renewal of their licensing agreement for the development, production and worldwide distribution of eyewear under the Giorgio Armani, Giorgio Armani Privé, Emporio Armani, EA7 Emporio Armani and A|X Armani Exchange brands. The existing agreement, which took effect on January 1, 2013, and expires on December 31, 2022, has been renewed for 15 years, effective January 1, 2023.

    The shared history of EssilorLuxottica and The Armani Group dates back to 1988, when Luxottica’s founder and late Chairman Leonardo Del Vecchio teamed up with Armani’s founder and Chairman Giorgio Armani to bring Armani-branded glasses, using the highest quality materials and skilled craftsmanship, to the global market. This move is widely seen as the start of a revolution that changed the way consumers used their glasses, evolving them from a necessary medical device into a fashion accessory and a symbol of personal style. Essentially, an entirely new “eyewear” category was born.

    “During the course of my career I have always built long-term collaborations and agreements with trusted partners. The relationship with EssilorLuxottica has been a cornerstone of my path, born from personal and professional esteem, which has led to challenging choices. Such an important renewal is the confirmation of a mutual loyalty that makes me proud and that will lead to further, important innovations,” said Giorgio Armani.

    “We are extremely proud of our history with the Armani Group and the magic we’ve created together. Leonardo Del Vecchio saw in Giorgio Armani a fellow entrepreneur with a shared passion for quality and innovation, and we are excited to continue on the journey they started,” said Francesco Milleri, Chairman and CEO of EssilorLuxottica. “In keeping with Leonardo Del Vecchio’s vision, with Armani we inaugurate a new long-term partnership model that will anchor us in the same spirit for many years to come.”

                           

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