Brunello Cucinelli, EssilorLuxottica Ink 10-Year Licensing Agreement
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MILAN — Brunello Cucinelli has signed a 10-year licensing agreement for the design, production and distribution of branded eyewear collections with EssilorLuxottica, effective Jan. 1 and running until Dec. 31, 2032.
The first collection will be introduced to the market in the first quarter of 2024.
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The agreement represents an extension of the collaboration that began last year with the launch of a capsule collection with Oliver Peoples, a brand under the EssilorLuxottica umbrella.
Brunello Cucinelli has repeatedly voiced his respect for Luxottica founder Leonardo Del Vecchio and on Monday, in a statement commenting on the license that was issued at the end of trading in Milan, where his namesake company is publicly listed, he reiterated his admiration. Cucinelli said choosing EssilorLuxottica is “a token of mutual affection and respect between two realities that are inspired by a passion for beauty and for things done well.”
Speaking of the “special relationship” with Del Vecchio, he said: “I will never forget his words to me: ‘Look, Brunello, I don’t know if my eyewear is beautiful; what I can vouch for is that it is made in the best possible way.’ It is a statement that I feel is very close to the way I myself view work. Then I still fondly remember when, in the last days of his life, he spoke of the ‘beautiful factory’ in Agordo: for me he was a true source of inspiration and it is not a coincidence that our constant commitment is directed precisely to increasingly beautify our factory in Solomeo. This is also why I am deeply confident in this precious understanding that our respective, new generations are called upon to nurture for the future.”
Last year, Cucinelli described the eyewear collection as a first capsule, and a co-branded, long-term collaboration, with Oliver Peoples, which was founded in 1987 and acquired by the Luxottica Group in 2007 as part of Oakley.
“We are thrilled to continue our journey with Brunello Cucinelli, a luxury lifestyle brand that represents the glamour of contemporary Italian style,” said Francesco Milleri, chairman and chief executive officer of EssilorLuxottica. “Through our new branded eyewear collections we will continue to deliver beautifully designed and crafted eyewear that embody the best of Brunello Cucinelli style for the consumers around the world.”
In addition to its proprietary brands Ray-Ban and Oakley, retail brands including Sunglass Hut, LensCrafters, and GrandVision, among others, EssilorLuxottica produces eyewear collections under license for Giorgio Armani, Burberry, Chanel, Prada and Ralph Lauren, among others. The company, formed through the merger of Essilor and Luxottica in 2018 and now listed on the Euronext Paris market, generated consolidated pro-forma revenue of 21.5 billion euros in 2021.
