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Constructing on an current twenty-year partnership, Prada Group and the Franco-Italian eyewear conglomerate EssilorLuxottica have renewed their licensing settlement for ten years.
Prada chairman Patrizio Bertelli stated EssilorLuxottica is “a trusted and long-standing companion” with whom the Milanese trend group shares “a imaginative and prescient for the way forward for eyewear.”
“Collectively we intention to ship even better improvements within the years to return” stated Francesco Milleri, chairman and CEO at EssilorLuxottica.
Renewing the tie-up with Prada is a key win for EssilorLuxottica as a number of main trend teams have pulled again from licensing in recent times. LVMH and Kering have steadily internalised their eyewear companies in recent times; Richemont flagship Cartier additionally produces its eyewear by way of Kering’s platform. EssilorLuxottica has in flip leaned on its owned manufacturers like Oakley and Ray-Ban to energy progress.
Prada Group, along with Hermès and Brunello Cucinelli, is likely one of the few luxurious homes which have continued rising amid an general market slowdown this yr, reporting nine-month web revenues up 18 p.c year-on-year. Prada’s sister model Miu Miu greater than doubled quarterly retail gross sales, propelling the group’s general efficiency.
How Prada Is Defying the Downturn
The Milanese group reported nine-month web revenues up 18 p.c year-on-year, powered by eye-popping progress at Miu Miu, which greater than doubled quarterly retail gross sales.
