New license for Luxottica

Coach and Luxottica Group today announced that they have signed a license agreement for the design, production and worldwide distribution of the sun and vision collections with the Coach, CoachPoppy and Reed Krakoff labels starting 2012.

“We are very pleased about this agreement that will combine Coach’s unique design and style with the excellent quality of Luxottica products”, said Lew Frankfort, Coach Chairman and Chief Executive Officer. “Thanks to the new Coach Eyewear by Luxottica collections we will be able to offer our customers a wide range of eyewear and further strengthen our positioning as a global accessories brand”.

“We are especially proud of this new partnership with Coach, one of the most important accessories brands in the world”, commented Andrea Guerra, Luxottica Chief Executive Officer. “The characteristics of this brand, its excellent design and production and its distribution in strategic markets integrate perfectly with our portfolio. Over the years, the Coach brand’s fame has grown significantly and it is now highly popular with customers all over the world: we are certain that this partnership will be extremely rewarding for both companies”.

The Coach collections will be distributed at Coach stores, worldwide, selected department stores in North America, Japan, China and the Far East, as well as at selected airports, independent opticians and Luxottica retail chains.

The multi-year agreement with options of renewal will begin January 1, 2012, and the first collection will be presented during that year. Luxottica forecasts strong growth for the Coach collections: when the collections have been distributed to the main markets and distribution channels, turnovers from the Coach license, excluding Coach stores, are expected to be around 100 million dollars a year.