MILAN – Reinforcing its dedication to its eyewear class and in an indication of conviction in its longtime accomplice, Prada Group has renewed its licensing settlement with EssilorLuxottica for the event, manufacturing and distribution of eyewear for the Prada, Prada Linea Rossa and Miu Miu manufacturers.
The present settlement will expire on Dec. 31, 2025, and has been prolonged by Dec. 31, 2030, with the supply for renewal till Dec. 31, 2035.
Patrizio Bertelli, Prada Group chairman, outlined EssilorLuxottica “a trusted and long-standing accomplice with whom we have now developed a powerful collaboration constructed on craftsmanship, high quality and innovation. This renewal reaffirms our dedication to those values and to our shared imaginative and prescient for the way forward for eyewear.”
The license was first inked in 2003.
Backstage at Prada Spring 2025 Prepared-to-Put on Assortment
Andrew Katz/WWD
“Since our paths first crossed, Prada Group has been a rare accomplice, holding a really particular place in our journey,” mentioned Francesco Milleri, chairman and chief govt officer of EssilorLuxottica. “This renewal fills us with pleasure and marks our shared dedication to embrace the best expression of luxurious eyewear – from refined class to daring irreverence and sport-inspired dynamism. Collectively we intention to ship even higher improvements within the years to come back.”
The power of Prada Group’s licenses for eyewear and perfume was highlighted on the finish of October, when the corporate reported revenues within the first 9 months of the 12 months totaled 3.83 billion euros. Within the interval ended Sept. 30, royalties rose 24 p.c to 91 million euros.
Additional underscoring the relevance of its eyewear collections, Prada earlier this 12 months prolonged its long-term partnership with Jake Gyllenhaal for its 2024 Prada Linea Rossa Eyewear marketing campaign, first launched for the model’s spring 2023 assortment.
The Academy Award-nominated actor options within the 2024 marketing campaign, titled “Within the Midst of the Motion,” which was photographed by Lukas Korschan on the Italian sailboat racing workforce Luna Rossa Prada Pirelli’s base in Cagliari, Italy. The marketing campaign got here forward of the thirty seventh America’s Cup crusing competitors, which happened in Barcelona within the fall.
Prada prides itself on creating with EssilorLuxottica a Linea Rossa eyewear assortment that blends performance with high-fashion aesthetics. The gathering consists of designs resembling an aerodynamic wraparound type with light-weight frames and a shade palette impressed by the AC75 Luna Rossa boat. The gathering’s lenses are mentioned to guard from the rays of the solar and improve peripheral imaginative and prescient.
Additionally including visibility to the collections, in September, seven-time Olympic gold medalist Simone Biles made a press release in Miu Miu sun shades on the 2024 U.S. Open for males’s and ladies’s quarterfinal matches.
This has been a busy 12 months for EssilorLuxottica, which noticed the debut of collections for Brunello Cucinelli, Jimmy Choo and Ferrari, Moncler’s new Lunettes assortment in September, an Alain Mikli relaunch and an Oliver Peoples four-collection collaboration with Roger Federer. It additionally acquired Supreme from VF Corp., invested in med-tech shopping for two spcialists within the sector, and prolonged its partnership with Meta Platforms with the intention of constructing on the success of its Ray-Ban Meta smartglasses to develop the following technology of good eyewear merchandise.
Established in 2018 by the merger of France’s Essilor and Italy’s Luxottica Group, along with its proprietary manufacturers, from Ray-Ban to Oakley and Persol, the group produces eyewear underneath license for manufacturers starting from Giorgio Armani and Prada to Tiffany & Co. and Versace.
EssilorLuxottica, which is publicly traded on Euronext Paris, within the first 9 months of the 12 months reported revenues of 19.7 billion euros, up 3 p.c in contrast with the identical interval in 2023.