A rescue deal to avoid the plant’s closure was approved by Italy's Ministry for Economic Development, creating the basis for assessing the plant’s re-industrialisation and to look for a new buyer and workforce.
The French label has inked a licence deal with the Italian eyewear group for the design, production and worldwide distribution of its eyeglasses and sunglasses. The first models will be launched by summer 2021.
In 2019, the eyewear group's revenue rose by 3.1%, as APAC’s increased by 23.1% and the wholesale channel grew in line with forecasts. But Q4 was weak, due to an expected slowdown in Europe after the Kering deal.