Kate Spade and Safilo renew licensing agreement
today Mar 23, 2019
Italian eyewear company Safilo and Kate Spade New York have announced the renewal of their global licensing agreement for the exclusive design, manufacturing and worldwide distribution of Kate Spade New York branded sunglasses and optical collections.
The new agreement between the two companies, who began their relationship in 2000, renews the partnership through June 30, 2026.
“The strong results achieved over the years with Kate Spade’s eyewear collections and the brand’s significant potential in the U.S. as well as in other markets including Asia, represent a further opportunity for us to grow the business in our strategic contemporary and premium segments," said Anna Bakst, chief executive officer and brand president of Kate Spade, in a press release.
Although Safilo missed its full-year sales target for 2018, due in part to weakness in North American department stores, the company said that Kate Spade eyewear has been a star performer in the region.
“The long-standing relationship with Kate Spade... is a success story which has seen the growth and expansion of the brand in the eyewear sector, making it today a leader in the high contemporary consumer segment, especially in North America which represents the largest market for the brand’s eyewear," explained Angelo Trocchia, chief executive officer of Safilo Group.
The updated contract comes on the heels of Kate Spade's recent store opening at Hudson Yards.
In addition to Kate Spade, Safilo also counts brands like Fendi, Tommy Hilfiger, Dior and Levi Strauss among its license portfolio.
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