Safilo and Armani will not renew license

november 17, 2011

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Safilo and Armani have announced not to renew the current license agreement which runs until the end of 2012. With the termination of this cooperation, the Italian manufacturer will loose sales of something in between 150 and 200 million euro on a yearly basis and needs to redefine its financial targets for the medium-term period. The company however is confident to achieve the earlier targets with new licenses and a strong portfolio of own brands. At the same day Luxottica announced the signing of a preliminary agreement with Armani. This would mean that after a short break, the Armani prescription frames and sunglasses license would return to Luxottica which will launch the new collections early 2013.

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