Luxottica: license agreement for Tory Burch eyewear
Luxottica Group and Tory Burch LLC, an emerging fashion and lifestyle brand in America, yesterday announced that they have signed a license agreement for the design, production and worldwide distribution of the sun and vision collections with the Tory Burch and TT labels.
Effective from January 2009, the six-year agreement is renewable for another four. The first collection will be presented summer 2009 and will come on the market in the fall.
Since its foundation in 2004, the Tory Burch label has always been highly regarded because of its lifestyle concept in several categories such as footwear, bags and jewelry. In 2008 Tory Burch won CFDA’s accessory stylist of the year award.
Tory Burch will be personally involved in each step of the creative process and will work closely with Luxottica’s designers and product team.
“I am proud to announce this partnership with Luxottica”, Tory Burch commented. “I think there will be great market opportunities for these glasses, which we will be introducing soon thanks to Luxottica’s strength and experience”. “We are very pleased about the new partnership with Tory Burch; she is one of the most highly regarded talents in the new generation of fashion stylists, especially in a strategic market like North America”, added Antonio Miyakawa, Executive Vice President, Wholesale and Marketing, Luxottica Group. “Because of the characteristics of her brand in the accessible luxury segment it is the perfect addition to our portfolio and makes it even more complete. Thanks to this license, which is proof that Luxottica continues to invest even in a difficult market scenario, we will strengthen our positioning also in the department stores segment”.
In addition to Tory Burch boutiques and selected department stores in the United States where the stylist is already present, the collections will be distributed to selected independent opticians and Luxottica’s retail chains, initially in North America. Distribution will then be extended to Europe and the rest of the world.
