Safilo and Authentic Brands extend sunglasses license for Juicy Couture
Safilo and Authentic Brands Group announced on Monday the extension of their licensing agreement for Juicy Couture. As per the agreement, Safilo will design, manufacture and distribute sunglasses for Juicy Couture until December 31, 2022.
'”The renewal of our license agreement, originally forged in 2005, is a result of positive performance year over year and our strong partnership with ABG,' said Luisa Delgado, CEO of Safilo Group. 'The Juicy Couture brand fits very well with our portfolio strategy, offering popular brands to our target market. We are excited to partner with the brand to grow our diversified distribution channels.”
Juicy Couture was primed for resurgence in the past few years. Following its acquisition by Authentic Brands Group in 2013, the lifestyle brand shuttered its US stores but announced plans to open new concept shops in the US and to continue operating its international locations. Juicy also launched partnerships with Bloomingdale’s, Urban Outfitters and model Behati Prinsloo, who is the face of the label.
However, Juicy Couture will reportedly shut down its remaining UK stores to focus on its online business.
Its partner Safilo in March reported a 2% decrease in revenue for fiscal 2016, due primarily to the exit of several brands from its portfolio.
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