EssilorLuxottica and Michael Kors
Announce Extended Licensing Partnership
Charenton-le-Pont, France, and New York, US (February, 21 2024 - 07:00 am CET) - EssilorLuxottica and Michael Kors announced today the renewal of their licensing agreement for the development, production and worldwide distribution of prescription frames and sunglasses under the Michael Kors brand.
The renewal will come into effect on January 1, 2025 and cover a period of five years, with an option for a five-year extension. The early renewal, coming almost a year before the expiration of the current agreement, is a testament to the strong confidence and collaboration between the two companies since 2015.
"We are really proud of the work we've done with Michael Kors over the past decade. In the years ahead, we'll continue to innovate together with designs that reflect the brand's innate sense of modern glamour and its unfailing eye for effortless chic," says Francesco Milleri, Chairman and CEO of EssilorLuxottica. "With this move, EssilorLuxottica continues to strengthen its collaboration with one of the most relevant luxury groups around the world through strategic partnerships that express the essence of its unique brands".
"We're very pleased with the success of our partnership with EssilorLuxottica over the past 10 years," says Cedric Wilmotte, CEO of Michael Kors. "Together, we have grown Michael Kors eyewear into a global business at the leading edge of fashion eyewear while continuing to celebrate the brand's long and distinctive heritage. We share EssilorLuxottica's commitment to design, innovation and quality, and look forward to continuing our close collaboration in the years ahead."
EssilorLuxottica
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more and be more by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. EssilorLuxottica has over 190,000 employees. In 2023, the Company generated consolidated revenue of Euro 25.4 billion. For more information, please visit www.essilorluxottica.com.
Michael Kors
Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, ready-to-wear, footwear, watches, and a full line of fragrance products. Michael Kors stores are operated in the most prestigious cities in the world. In addition, Michael Kors operates digital flagships across North America, Europe and Asia, offering customers a seamless omni-channel experience.
