Leonardo Del Vecchio Joins Versace's Board of Directors

The relationship between Luxottica and Versace is becoming even closer. After the licensing agreement signed at the beginning of 2003 for the production and distribution of the Versace and Versus eyewear collections, the president of the Veneto-based company, Leonardo Del Vecchio, will join the board of directors of Gianni Versace spa.

The announcement might be made at the Medusa Group's next ordinary meeting of the shareholders due on June 25 (first convocation) and June 27.

The eyeglasses and sunglasses agreement signed by the two partners last January led to Luxottica's acquisition of the eyewear production and distribution company, Ic optics, held jointly by Gianni Versace spa and Italocremona spa. The Group from Agordo forecasts that the first 12 months' billings from the Versace license will be around 90 million euros.