EssilorLuxottica, Michael Kors extend fashion eyewear licensing agreement

EssilorLuxottica and Michael Kors announced on Wednesday the renewal of their fashion eyewear licensing agreement. 

The agreement covers the development, production, and worldwide distribution of prescription frames and sunglasses under the Michael Kors brand.

The renewal, set to take effect on January 1, 2025, will span a period of five years, with an option for a further five-year extension. The renewal is occurring nearly a year before the expiration of the current agreement. The two industry giants first partnered in 2015.

“We are really proud of the work we’ve done with Michael Kors over the past decade. In the years ahead, we’ll continue to innovate together with designs that reflect the brand’s innate sense of modern glamour and its unfailing eye for effortless chic,” said Francesco Milleri, chairman and CEO of EssilorLuxottica. 

“With this move, EssilorLuxottica continues to strengthen its collaboration with one of the most relevant luxury groups around the world through strategic partnerships that express the essence of its unique brands.”

Formed in 2018, EssilorLuxottica reported a consolidated revenue of 25.4 billion Euros in 2023. In addition to its proprietary brands, from Ray-Ban to Oakley and Persol, EssilorLuxottica licensed brands include Giorgio Armani, Brunello Cucinelli, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Ferrari, and more. 

“We’re very pleased with the success of our partnership with EssilorLuxottica over the past 10 years,” added Cedric Wilmotte, CEO of Michael Kors. 

“Together, we have grown Michael Kors eyewear into a global business at the leading edge of fashion eyewear while continuing to celebrate the brand’s long and distinctive heritage. We share EssilorLuxottica’s commitment to design, innovation and quality, and look forward to continuing our close collaboration in the years ahead.”