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MILAN — Giorgio Armani SpA and Luxottica Group announced Friday they had inked a licensing agreement for the production and worldwide distribution of eyewear collections under the Giorgio Armani, Emporio Armani and A|X Armani Exchange brands. This follows news in November that the two groups had reached a preliminary agreement on the license.
The 10-year agreement will begin on Jan. 1, and the first collection will be presented during the year.
Luxottica said in a statement that the license is expected to generate annual sales exceeding 200 million euros, or $250.3 million at current exchange, “after the initial launch period and once distribution has been fully rolled out across key geographies and channels.”
This marks a return to Luxottica for the designer, who first licensed his eyewear to the Italian firm in 1988. Luxottica then lost the license to Safilo SpA, whose first Armani collections came out in 2003.
Luxottica owns the Oakley and Ray-Ban labels and holds eyewear licenses with brands such as Bulgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Tiffany and Versace.