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This excerpt taken from the LUX 6-K filed May 12, 2009. EVENTS IN 2009
In January 2009, Luxottica Group entered into two agreements that further strengthen its licensed brand portfolio.
On January 28, 2009, the Company entered into a new licensing agreement to design, manufacture and globally distribute sun and prescription eyewear collections by Tory Burch and TT, two emerging American fashion and lifestyle brands. The agreement with Tory Burch LLC will run for six years - renewable for a further four - and envisages the launch of the first collection in 2009.
The new collections will be distributed not only by Tory Burch boutiques and premium American department stores but also in select independent optical stores and in Luxottica’s retail chains. After North America, distribution will be extended to Europe and the rest of the world. Tory Burch, a highly appreciated brand in the affordable luxury category, completes Luxottica’s brand portfolio by further strengthening its positioning in the key North American market and in the continually expanding department store channel.
On January 30, 2009, Luxottica Group and Salvatore Ferragamo Italia S.p.A., which controls Gruppo Ferragamo, agreed to a three-year extension of their licensing agreement covering design, manufacturing and global distribution of prescription and sun eyewear under the Salvatore Ferragamo label. This renewal of an agreement originally signed in 1998 is an ultimate endorsement of a propitious collaboration with a major player in the global luxury category, thanks to which Luxottica will continue to develop prestigious collections that leverage the universally recognized quality of “Made in Italy.”
The new agreement runs until December 2011, with an option on a two-year renewal under the same terms.
In April, the strategy of lengthening the average duration of licenses and consolidating relationships with licensors led to the renewal of the licensing agreement with Donna Karan International Inc., which has been part of the LVMH Group, the world’s leader in luxury goods, since 2001. The term of the new contract, which covers prescription and sun collections under the Donna Karan and DKNY brands, is December 2014, with an option on renewal for a further five years.
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