Bulgari S.p.A., one of the leading global players in the luxury market, and Luxottica Group S.p.A., a leader in premium fashion, luxury and sports eyewear, announced a ten-year extension of the license agreement for the design, production and worldwide distribution of prescription frames and sunglasses under the Bulgari brand.
The new agreement will run from January 1, 2011 to December 31, 2020.
Bulgari is one of the leading global players in the luxury market. In 2009 the Group posted a turnover of 926.6 million Euro. Bulgari relies on a store network in the most exclusive shopping areas in the world and on selected distributors. As of 31.03.2010 the number of the Bulgari stores in the world was 275 of which 166 were directly owned stores. Bulgari has a product portfolio that ranges from jewels and watches to accessories and perfumes. The Group is controlled by the Bulgari family, holding about 51.0% of the share capital. The remaining 49.0% is listed on the Milan Stock Exchange.
Luxottica Group is a leader in premium fashion, luxury and sports eyewear, with over 6,300 optical and sun retail stores in North America, Asia-Pacific, China, South Africa and Europe and a strong and well-balanced brand portfolio. Luxottica's key house brands include Ray-Ban, the best known sun eyewear brand in the world, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tiffany and Versace. In addition to a global wholesale network covering 130 countries, the Group manages leading retail brands such as LensCrafters and Pearle Vision in North America, OPSM and Laubman & Pank in Australasia, LensCrafters in Greater China and Sunglass Hut globally. The Group's products are designed and manufactured in six Italy-based manufacturing plants, two wholly-owned plants in China and a sports sunglass production facility in the U.S. In 2009, Luxottica Group posted consolidated net sales of Euro 5.1 billion.
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