The billionaire Italian family that until recently owned Brooks Brothers has been accused in a lawsuit of driving the retailer into bankruptcy instead of selling it, to avoid paying millions of dollars to an investor.
EssilorLuxottica is targeting a recovery in its business this year to levels seen before the COVID-19 crisis after the Oakley and Ray-Ban maker's fourth-quarter revenue showed further signs of improvement.
Luxottica will give employees a monitor that alerts them if they are not respecting social distancing rules and keeps track of contacts with people potentially at risk of coronavirus infection, it said on Thursday.
EssilorLuxottica is suspending its dividend due to the coronavirus pandemic, it said Monday, adding its annual shareholder meeting has been delayed and its Essilor chief executive officer, Laurent Vacherot, has retired.
EssilorLuxottica expects continued profit growth this year after stronger 2019 results, saying the outbreak of coronavirus had not hit output at its Italian factories and its China production was becoming normal.
The new, five-year licence deal between the Italian eyewear group and the French luxury label will start on January 1 2020 and end on December 31 2024, with the option of a 3-year extension until December 2027.