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Chanel and Luxottica Group Renew License Agreement 2019-10-31

Chanel and Luxottica Group announced the early renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Chanel brand. The five-year agreement will come into effect on Jan. 1, 2020 and run until Dec. 31, 2024, with the possibility of renewal for three additional years.

Bruno Pavlovsky, president of Chanel's Fashion and Chanel SAS, commented: “Chanel has developed a very strong and valuable partnership with Luxottica over the past 20 years. Together we have built an exceptional product line, combining Chanel's creation with Luxottica's expertise and manufacturing capabilities. We are convinced that Chanel’s eyewear will continue to be one of the most desirable fashion accessories, thanks to Luxottica’s innovative know-how.”

Leonardo Del Vecchio, executive chairman at Luxottica, commented: “We are extremely pleased with this strategic agreement for our Group. For 20 years, Luxottica and Chanel have shaped the idea of luxury eyewear together, with outstanding, highly exclusive and iconic products, starting with the launch of Chanel’s first-ever eyewear collection in 1999.”

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