Eyewear supplier Luxottica has announced the signing of a licence agreement for design, manufacturing and global distribution of sun and prescription eyewear under the Coach, Coach Poppy and Reed Krakoff brands beginning January 2012. The multi-year agreement will also include options for renewal.
Distribution of Coach eyewear collections will be through Coach stores across the world in selected department stores primarily in North America, Japan, China and East Asia, selected travel-retail and independent optical locations and Luxottica’s retail chains. Coach eyewear is expected to generate strong growth with annual sales, outside of Coach stores at approximately $100m annually after the initial launch period and once the distribution has been fully rolled out across key geographies and channels.
Luxottica Group chief executive officer Andrea Guerra said: "We are very excited and proud to be entering this new partnership with Coach, one of the most important accessories brands in the world. Coach’s brand proposition, commitment to the highest standards for design and craftsmanship and its distribution in strategic geographies worldwide fit perfectly within our portfolio. Over the years, Coach has enjoyed increasing global recognition and is now greatly appreciated by consumers throughout the world and we are confident that this partnership will be mutually beneficial."
Coach chairman and CEO Lew Frankfort added: “We’re very excited about this partnership, which will combine Coach’s distinct design aesthetic with Luxottica’s excellent product quality and craftsmanship. Through the new Coach Eyewear collection by Luxottica, we will continue to offer a compelling eyewear assortment to our consumers and further strengthening our position as a global lifestyle accessories brand.”