HONG KONG & MILAN -- (Business Wire)
Michael Kors Holdings Limited (NYSE:KORS) and Luxottica Group (MTA:LUX)
(NYSE:LUX) announced today that they have signed a new and exclusive
eyewear license agreement for the Michael Kors Collection and MICHAEL
Michael Kors eyewear. The first collection produced with Luxottica will
launch in January 2015.
The partnership with Luxottica, a global leader in premium, luxury and
sports eyewear, will last 10 years. It will allow Michael Kors,
celebrated for its luxury accessories and ready-to-wear, as well as its
iconic jet set lifestyle, to continue the global expansion of the
brand’s eyewear business. Luxottica will produce eyewear for both the
Michael Kors Collection and MICHAEL Michael Kors lines, beginning with
Spring 2015. The brand’s two luxury eyewear collections will be carried
around the world in Michael Kors stores, department stores, select
travel retail locations, independent optical locations and Luxottica’s
retail stores.
“We have achieved great success in the eyewear business and believe that
our new partnership will further enhance our luxury image in the optical
and sunglass marketplace,” said John D. Idol, CEO of Michael Kors.
“Luxottica is the industry leader in eyewear through their commitment to
design and quality which makes them the perfect partner for our luxury
brand. Our eyewear business is an important component of the overall
growth strategy as we continue our expansion around the world.”
“We are very excited and proud to be entering this new partnership with
Michael Kors, one of the most powerful American luxury lifestyle brands
in the world,” said Andrea Guerra, Chief Executive Officer of Luxottica
Group. “Michael Kors has a major influence in fashion, with products
that are exciting to luxury audiences globally. We believe that the
Michael Kors’ brand proposition, its solid growth and strong performance
across its segments, and its innovative fashion design fit perfectly
within our portfolio. We are confident that this partnership will have
great success.”
About Michael Kors
Michael Kors is a world-renowned, award-winning designer of luxury
accessories and ready-to-wear. His namesake company, established in
1981, currently produces a range of products through his Michael Kors
and MICHAEL Michael Kors labels, including accessories, footwear,
watches, jewelry, men’s and women’s ready-to-wear, and a full line of
fragrance products. Michael Kors stores are operated, either directly or
through licensing partners, in some of the most prestigious cities in
the world, including New York, Beverly Hills, Chicago, London, Milan,
Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.
About Luxottica Group S.p.A.
Luxottica Group is a leader in premium, luxury and sports eyewear with
over 7,000 optical and sun retail stores in North America, Asia-Pacific,
China, South Africa, Latin America and Europe, and a strong,
well-balanced brand portfolio. House brands include Ray-Ban, the world’s
most famous sun eyewear brand, Oakley, Vogue Eyewear, Persol, Oliver
Peoples, Alain Mikli and Arnette, while licensed brands include Giorgio
Armani, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan,
Polo Ralph Lauren, Prada, Starck Eyes, Tiffany and Versace. In addition
to a global wholesale network involving 130 different countries, the
Group manages leading retail chains in major markets, including
LensCrafters, Pearle Vision and ILORI in North America, OPSM and Laubman
& Pank in Asia-Pacific, LensCrafters in China, GMO in Latin America and
Sunglass Hut worldwide. The Group's products are designed and
manufactured at its six manufacturing plants in Italy, three wholly
owned plants in the People’s Republic of China, one plant in Brazil and
one plant in the United States devoted to the production of sports
eyewear. In 2013, Luxottica Group posted net sales of more than Euro 7.3
billion. Additional information on the Group is available at www.luxottica.com.
Forward-Looking Statements
This press release contains forward-looking statements about Michael
Kors and Luxottica. You should not place undue reliance on such
statements because they are subject to numerous uncertainties and
factors relating to the operations and business environment of each
company, all of which are difficult to predict and many of which are
beyond such company’s control. Forward-looking statements include
information concerning each company’s possible or assumed future results
of operations, including descriptions of its business strategy. These
statements often include words such as
“may,”“will,”“should,”“believe,”“expect,”“anticipate,”“intend,”“plan,”“estimate”or
similar expressions. The forward-looking statements contained in this
press release are based on assumptions that each company has made in
light of management’s experience in the industry as well as its
perceptions of historical trends, current conditions, expected future
developments and other factors that it believes are appropriate under
the circumstances. You should understand that these statements are not
guarantees of performance or results. They involve known and unknown
risks, uncertainties and assumptions. Although each company believes
that these forward-looking statements are based on reasonable
assumptions, you should be aware that many factors could affect its
actual financial results or results of operations and could cause actual
results to differ materially from those in these forward-looking
statements. Please refer to both companies respective annual filings
with the U.S. Securities and Exchange Commission for a complete list of
risk factors.
Contacts:
FOR MICHAEL KORS INQUIRIES:
Investor Relations:
Jean
Fontana
ICR, Inc.
T: 646.277.1214
Jean.Fontana@icrinc.com
or
Megan
Crudele
ICR, Inc.
T: 646.277.1240
Megan.Crudele@icrinc.com
or
Media:
Alecia
Pulman
ICR, Inc.
T: 203.682.8224
Alecia.Pulman@icrinc.com
or
Brittany
Rae Fraser
ICR, Inc.
T: 646.277.1231
BrittanyRae.Fraser@icrinc.com
or
FOR
LUXOTTICA INQUIRIES:
Cristina Parenti
Group Corporate
Communication and Public Relations Director
T: +39 (02) 8633 4683
E-mail:
cristina.parenti@luxottica.com
or
Alessandra
Senici
Group Investor Relations Director
T: +39 (02) 8633 4870
E-mail:
InvestorRelations@Luxottica.com
Source: Michael Kors Holdings Limited
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