fbpx

Kering to launch Kering Eyewear

Kering is launching a strategic initiative aimed at building in-house eyewear expertise, in order to take advantage of strong growth in global sales of frames and sunglasses.

 

The French company, whose portfolio includes 11 luxury and “sport & lifestyle” brands such as Gucci, Balenciaga and Alexander McQueen, will invest in the Kering Eyewear division. Roberto Vedovotto will be CEO. Vedovotto and his team will be co-shareholders of the new entity.

 

Roberto Vedovotto, former CEO at Safilo, was taken on at Kering in November 2013. At the same time as it introduced its new business model, Kering also announced a new agreement with Safilo, which holds a license for Kering’s Gucci frames. The two companies will terminate the current Gucci license agreement two years early, by December 31, 2016, for a compensation payment to Safilo of nearly $130 million.

 

Instead, Safilo and Kering will set up a strategic product partnership agreement for four years, starting in January 2017. This agreement will cover product development, manufacturing and supply of Gucci frames and will allow Kering to benefit from Safilo’s expertise and production capabilities.

 

Eventually, Kering plans to fully control the eyewear value chain, from design to product development and supply chain, and from branding to sales.

 

The 11 Kering brands, nine of which are managed through license agreements with five different partners, currently generate $500 million in sales and over $70 million in royalties.


Source: http://www.kering.com/fr/communiques-de-presse/kering_prevoit_de_reprendre_le_controle_de_la_chaine_de_valeur_de_ses

Featured Posts

Bausch + Lomb

Bausch + Lomb and Glaucoma Research Foundation Launch Second Annual Faces of Glaucoma Campaign and Fundraising Challenge

Bausch + Lomb Corporation and Glaucoma Research Foundation (GRF), a national nonprofit organization dedicated to curing glaucoma, are launching the second annual “Faces of Glaucoma” campaign.

Learn More
MIDO logo

Exhibition Layout: Changes and Developments at MIDO 2025

In 2025, the MIDO exhibition layouts will undergo significant changes to provide visitors with an even more engaging and innovative experience.

Read more
Illustration of a woman standing on an upward-pointing arrow, with clouds in the background. The image has been cropped above the woman's waist.

Visionary Women: Leaders in Eyewear & Eye Care

Discover the powerful stories of visionary women reshaping Canada's eyewear and eye care sectors. Join Optik in celebrating their leadership, innovation, and commitment to blending fashion with science, as they mentor the next generation and drive meaningful change in the optical industry.

Read more
Voila November-December 2024 Etnia Barcelona Pellicer GUIMERA

Pellicer Blends Catalan Tradition with Modern Elegance

Pellicer, Etnia Barcelona's new premium collection, combines the craftsmanship of three generations of eyewear with modern innovation.

Read more
Prada Group and EssilorLuxottica logos

Prada Group and EssilorLuxottica Announce Ten-year Licensing Renewal

The renewal is a testament to strong confidence, trust and collaboration between the two companies

Read more
Bausch + Lomb

Bausch + Lomb and Glaucoma Research Foundation Launch Second Annual Faces of Glaucoma Campaign and Fundraising Challenge

Bausch + Lomb Corporation and Glaucoma Research Foundation (GRF), a national nonprofit organization dedicated to curing glaucoma, are launching the second annual “Faces of Glaucoma” campaign.

Learn More
MIDO logo

Exhibition Layout: Changes and Developments at MIDO 2025

In 2025, the MIDO exhibition layouts will undergo significant changes to provide visitors with an even more engaging and innovative experience.

Read More
Illustration of a woman standing on an upward-pointing arrow, with clouds in the background. The image has been cropped above the woman's waist.

Visionary Women: Leaders in Eyewear & Eye Care

Discover the powerful stories of visionary women reshaping Canada's eyewear and eye care sectors. Join Optik in celebrating their leadership, innovation, and commitment to blending fashion with science, as they mentor the next generation and drive meaningful change in the optical industry.

Read More
Voila November-December 2024 Etnia Barcelona Pellicer GUIMERA

Pellicer Blends Catalan Tradition with Modern Elegance

Pellicer, Etnia Barcelona's new premium collection, combines the craftsmanship of three generations of eyewear with modern innovation.

Read More
Prada Group and EssilorLuxottica logos

Prada Group and EssilorLuxottica Announce Ten-year Licensing Renewal

The renewal is a testament to strong confidence, trust and collaboration between the two companies

Read More
Bausch + Lomb

Bausch + Lomb and Glaucoma Research Foundation Launch Second Annual Faces of Glaucoma Campaign and Fundraising Challenge

Bausch + Lomb Corporation and Glaucoma Research Foundation (GRF), a national nonprofit organization dedicated to curing glaucoma, are launching the second annual “Faces of Glaucoma” campaign.

Learn More
MIDO logo

Exhibition Layout: Changes and Developments at MIDO 2025

In 2025, the MIDO exhibition layouts will undergo significant changes to provide visitors with an even more engaging and innovative experience.

Read more
Illustration of a woman standing on an upward-pointing arrow, with clouds in the background. The image has been cropped above the woman's waist.

Visionary Women: Leaders in Eyewear & Eye Care

Discover the powerful stories of visionary women reshaping Canada's eyewear and eye care sectors. Join Optik in celebrating their leadership, innovation, and commitment to blending fashion with science, as they mentor the next generation and drive meaningful change in the optical industry.

Read more
Voila November-December 2024 Etnia Barcelona Pellicer GUIMERA

Pellicer Blends Catalan Tradition with Modern Elegance

Pellicer, Etnia Barcelona's new premium collection, combines the craftsmanship of three generations of eyewear with modern innovation.

Read more
Prada Group and EssilorLuxottica logos

Prada Group and EssilorLuxottica Announce Ten-year Licensing Renewal

The renewal is a testament to strong confidence, trust and collaboration between the two companies

Read more
Bausch + Lomb

Bausch + Lomb and Glaucoma Research Foundation Launch Second Annual Faces of Glaucoma Campaign and Fundraising Challenge

Bausch + Lomb Corporation and Glaucoma Research Foundation (GRF), a national nonprofit organization dedicated to curing glaucoma, are launching the second annual “Faces of Glaucoma” campaign.

Learn More
MIDO logo

Exhibition Layout: Changes and Developments at MIDO 2025

In 2025, the MIDO exhibition layouts will undergo significant changes to provide visitors with an even more engaging and innovative experience.

Read more
Illustration of a woman standing on an upward-pointing arrow, with clouds in the background. The image has been cropped above the woman's waist.

Visionary Women: Leaders in Eyewear & Eye Care

Discover the powerful stories of visionary women reshaping Canada's eyewear and eye care sectors. Join Optik in celebrating their leadership, innovation, and commitment to blending fashion with science, as they mentor the next generation and drive meaningful change in the optical industry.

Read more
Voila November-December 2024 Etnia Barcelona Pellicer GUIMERA

Pellicer Blends Catalan Tradition with Modern Elegance

Pellicer, Etnia Barcelona's new premium collection, combines the craftsmanship of three generations of eyewear with modern innovation.

Read more
Prada Group and EssilorLuxottica logos

Prada Group and EssilorLuxottica Announce Ten-year Licensing Renewal

The renewal is a testament to strong confidence, trust and collaboration between the two companies

Read more