Luxottica renews licence agreement for Ralph Lauren eyewear for 10 years
Luxottica Group and Ralph Lauren Corporation have renewed for 10 years, until 31st March 2027, the licence agreement for the design, production and exclusive worldwide distribution of eyeglasses and sunglasses for some of the US fashion group's brands, including Polo and Ralph Lauren.
The Italian multinational eyewear giant closed the third quarter with an adjusted revenue slightly on the rise, as per forecast, up 1.2% at current exchange rates (+1.4% at constant exchange rates), reaching €2.225 billion. In the first 9 months of the fiscal year, total adjusted revenue grew 1.5% at constant exchange rates (-0.1% at current exchange rates), reaching €6.944 billion.
The Italian manufacturer currently controls approximately 5,800 eyewear stores, across North America, Asia-Pacific and China. Its portfolio includes 25 brands, 8 of them Luxottica's own and 17 under licence. Among the licensed brands, there are Bulgari, Burberry, Chanel, Dolce & Gabbana, Prada, Versace, Polo Ralph Lauren and Tiffany & Co., while Luxottica's own brands include Ray-Ban, Vogue, Persol, Revo and Arnette. The Luxottica group sells its products in 130 countries, and has a direct presence in the industry's 38 most important markets.
The Ralph Lauren group (whose eponymous designer-founder was recently recognised with the 'Outstanding Achievement Award' at the British Fashion Council's 'Fashion Awards 2016' for his unceasing contribution to design, innovation, charity and the fashion business) closed the second quarter with a 7.6% revenue decrease, down to $1.821 billion, equivalent to €1.674 billion. At the same time, the group's EBIT fell to $76 million, compared to $230 million recorded in the second quarter 2015. The wholesale business slumped by 10.4%, down to $831 million, while retail revenue fell by 5.4% to $942 million. Licensing revenue was instead up 1.6%, reaching $48 million.
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