Safilo, Marc Jacobs renew eyewear licencing agreement through 2026
Safilo Group has announced the early renewal of its licensing agreement for Marc Jacobs branded optical frames and sunglasses, marking the two partners' 15th year together.
The new deal will now run until December 31, 2026.
The renewal “further strengthens Safilo’s portfolio in the contemporary segment,” Safilo said in an announcement, “while extending the positioning of the brand in the luxury segment with the launch of the Marc Jacobs Runway eyewear collection, which will hit the market in January of 2021.”
The renewal marks a highlight amid recent struggles for the Italian eyewear maker. The company announced on Wednesday it expects the loss of licenses with luxury LVMH brands to wipe 200 million euros ($222,890,000 USD) off its annual sales and it will cancel its dividend for five years, causing its shares to sink almost 22 percent.
Earlier in the week, Safilo also revealed that it had acquired a 70% stake in Blenders Eyewear LLC, just days before it announced that it will cut 700 jobs in Italy next year, or more than 10% of its global workforce, as it tries to boost profitability amid sluggish sales.
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