Safilo announces the end of license agreement with Diesel

 Safilo Group and the Diesel Group have jointly announced that the license agreement for the production and distribution of eyewear with the Diesel label will continue until its natural expiry date, December 31, 2010.

The partnership between Safilo and Diesel began in 1994 and over the years has led to the development of internationally recognized and appreciated sun and vision collections with innovative and impactful advertising campaigns.

Roberto Vedovotto, Managing Director of the Safilo Group, said: “We would like to express our appreciation of, and high regard for, the work carried out during the sixteen years with the Diesel Group. At the same time, we regret that we have not reached a shared vision of the strategy for the future development of the Diesel brand in the eyewear sector and in line with the economic and financial objectives established for renewing the Safilo Group’s license portfolio”.

Renzo Rosso, President of Diesel Group, declared: “We would like to thank Safilo for the invaluable contribution it has made over many years of collaboration during which we have faced numerous challenges and achieved many successes. While remaining faithful to its DNA, Diesel is now an international group with ambitious plans for the global development of all its product categories including eyewear, and it will continue to work with commitment and a spirit of innovation”.

Safilo underscored that sales proceeds reached through the Diesel brand represented about 2% of the Group’s total turnover in financial year 2009.