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Safilo renews key Gucci license with Kering for three years

By
Reuters
Published
today Oct 7, 2019
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Italian eyewear maker Safilo has renewed for three years an accord with French luxury giant Kering to manufacture and supply Gucci-branded products, the companies said on Friday.


Gucci - Spring-Summer2020 - Womenswear - Milan - © PixelFormula


The current accord, which had replaced a license agreement for the Gucci brand that Safilo lost after Kering set up its in-house eyewear business, expires in December 2020.

The new one will kick in from January.

Shares in Safilo closed up almost 12% on Friday.

The stock had risen earlier this week on speculation that Kering could be looking at the Italian company as a possible takeover target.

© Thomson Reuters 2019 All rights reserved.