Eyewear. This replaces the previous contract that was due to expire at the end of 2030 and marks yet another approach to the production and distribution of branded eyewear.
Asked about the reasoning behind the new development, Trocchia told WWD that he hoped perpetual licensing agreements would become “more frequent” in the eyewear industry, describing them as “certainly important strategic projects,” given the current and future strength of certain brands. Asked about potential changes in terms of organization, distribution or balance with the other brands produced by Safilo, Trocchia said the business model and the organization will not change, as the company will continue to manage the whole chain, from design to production and global distribution.
Oriana Cardani, senior equity analyst at the Equity Research Department of Intesa Sanpaolo, admitted that “these kinds of operations are emerging in the sector,” but saw them as “company-specific.” EssilorLuxottica’s deal with Kodak was an evolution of the multiyear licensing agreement with the company with the intent to further develop the brand in all its categories. At the time of the announcement, deputy CEO of EssilorLuxottica Paul du Saillant said the “substantial and permanent addition” to the group’s brand portfolio would create new opportunities “leveraging our innovation capabilities and distribution network.