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EssilorLuxottica — M&A Activity 2024
Mar 7, 2024
1298_iss_2024-03-07_b91d153c-0fc8-4bfa-8238-986a4e1f1416.pdf
M&A Activity
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EssilorLuxottica and Dolce&Gabbana announce 16-year licensing renewal
Charenton-le-Pont, France and Milan, Italy (March 7, 2024) - EssilorLuxottica and Dolce&Gabbana, today, announce the early renewal of their licensing agreement for the development, production and worldwide distribution of prescription frames and sunglasses under the Dolce&Gabbana brand.
The existing agreement, which took effect on January 1, 2020, and was scheduled to expire on December 31, 2029, has been renewed and replaced with a new accord, lasting 16 years, effective January 1, 2024 until December 31, 2039.
The renewal, ahead of its natural expiration, and its duration are testament to the strong confidence and collaboration between the two companies since 2005.
"Dolce&Gabbana has held a special place in our hearts over two decades. Since our stories intertwined, we have created some beautiful, memorable and innovative frames together, each a 'made in Italy' masterpiece. We have cultivated a love, admiration and loyalty among the most discerning consumers, developing a deep trust and respect for each other along the way. Our early renewal signals the strong bond between our companies and the promise that luxury eyewear represents in the decades ahead." commented Francesco Milleri, Chairman and CEO at EssilorLuxottica.
"EssilorLuxottica and Dolce&Gabbana have built a powerfully effective partnership over the last 19 years, both in business and creativity. Today's long-term renewal is representative of our shared confidence in the future opportunities from which both parties will benefit as we continue to work together in the years ahead. EssilorLuxottica's unparalleled know-how in the manufacture of eyewear is matched only by the scale and quality of its global network of retail and distribution. Dolce&Gabbana is delighted to confirm today's renewal", said Alfonso Dolce, CEO at Dolce&Gabbana.
EssilorLuxottica
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. With over 190,000 employees across 150 countries, 650 operations facilities and 18,000 stores, 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. EssilorLuxottica is home to the most advanced lens technologies including Varilux, Stellest and Transitions, the most iconic eyewear brands including Ray-Ban and Oakley, the most desired luxury licensed brands and world-class retailers including LensCrafters and Sunglass Hut. The company's OneSight EssilorLuxottica Foundation has given access to sustainable vision care to more than 760 million people in underserved communities. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.www.essilorluxottica.com
Dolce&Gabbana
Established in 1984, Dolce&Gabbana is an international leader in the fashion and luxury goods sector. The founders, Domenico Dolce and Stefano Gabbana, have always been the creative and stylistic source of all the brand's activities as well as the drivers behind the development strategies.
The Group creates, produces and distributes high-end clothing, leather goods, footwear, accessories, jewellery and watches. The brand is present in the prêt-à-porter segment with Men's, Women's and Children's Collections.
Since 2012, the brand has developed the Alta Moda project which further expanded into Alta Sartoria, Alta Gioielleria and Alta Orologeria Collections.
In 2021, Dolce&Gabbana launched Dolce&Gabbana Casa, a homeware line dedicated to furniture and furnishing complements. The following year, the company announced the creation of Dolce&Gabbana Beauty with direct control of the manufacture, sales and distribution of its fragrance and make-up products.
The Eyewear category is entrusted to EssilorLuxottica, a licensee partner.
Dolce&Gabbana currently has various collaborations in the Food & Beverage and Lifestyle sectors, thanks to virtuous synergies with Italian partners of primary importance that share the vocation for excellence and the promotion of Made in Italy in their respective fields with the brand.
CONTACTS
Marco Catalani – Head of Corporate Communications [email protected] e-mail: [email protected] [email protected] Giorgio Iannella – Head of Investor Relations e-mail: [email protected]
EssilorLuxottica Dolce&Gabbana