Prada Group and EssilorLuxottica renew their ten-year eyewear license. According to the agreement, which was first inked in 2003, EssilorLuxottica will develop eyewear for Prada, Prada Linea Rossa and Miu Miu.
Prada Group and EssilorLuxottica renew their ten-year eyewear license.
Reinforcing its commitment to its eyewear category Prada Group announces the renewal of its licensing agreement with EssilorLuxottica for the development, production and distribution of eyewear for the Prada, Prada Linea Rossa and Miu Miu brands. The existing agreement, expiring on December 31, 2025, has been extended through December 31, 2030, with the provision for renewal until December 31, 2035
The license was first inked in 2003. Rooted in a pioneering vision and commitment to excellence, the twenty-one year partnership has shaped a unique approach to luxury that is timeless albeit forward-looking. The two companies have taken inspiration from both fashion and technology to deliver innovative collections that have become a benchmark in the fashion industry.
“We are pleased to announce the renewal of this agreement with EssilorLuxottica, a trusted and long-standing partner with whom we have developed a strong collaboration built on craftsmanship, quality and innovation,” says Patrizio Bertelli, Prada Group Chairman. “This renewal reaffirms our commitment to these values and to our shared vision for the future of eyewear.”
“Since our paths first crossed, Prada Group has been an extraordinary partner, holding a very special place in our journey. This renewal fills us with pride and marks our shared commitment to embrace the finest expression of luxury eyewear – from refined elegance to bold irreverence and sport-inspired dynamism,” explains Francesco Milleri, Chairman and CEO at EssilorLuxottica.
Per WWD: ‘Further underscoring the relevance of its eyewear collections, Prada earlier this year extended its long-term partnership with Jake Gyllenhaal for its 2024 Prada Linea Rossa Eyewear campaign, first launched for the brand’s spring 2023 collection. The Academy Award-nominated actor features in the 2024 campaign, titled “In the Midst of the Action,” which was photographed by Lukas Korschan at the Italian sailboat racing team Luna Rossa Prada Pirelli’s base in Cagliari, Italy.’ The campaign came ahead of the 37th America’s Cup sailing competition, which took place in Barcelona. Additionally, Olympic gold medalist Simone Biles wore Miu Miu sunglasses at the 2024 U.S. Open for men’s and women’s quarterfinal matches, last September.
PRADA GROUP CONTINUES TO DELIVER SOLID PERFORMANCE
Prada SS25
Prada Group’s consolidated revenue performance for the nine months ended 30 September 2024 showed net revenues of €3,829 million driven by strong brand identity, creative dynamism and sound execution and retail sales of €3,425 million.
“We are pleased to see that our strategy keeps delivering above-market performance at both Prada and Miu Miu,” says Patrizio Bertelli, Prada Group Chairman and Executive Director. “We are operating in a challenging environment, for the entire luxury value chain. Nonetheless, we continue to see opportunities for our brands and remain committed to our strategic investment plan in retail, technology and industrial capabilities to support the long-term, sustainable growth of our Group and our partners.”
“We progressed through the year with another quarter of high-quality, like-for-like growth, supporting our positive trajectory in both revenue and margins,” adds Andrea Guerra, Group Chief Executive Officer. “Our brands remain desirable and relevant, thanks to the strength and consistency of their identity, creativity and sharp positioning. Prada recorded a solid performance, showing resilience against sector headwinds, and Miu Miu upheld its thriving growth momentum. Despite the challenging backdrop, we are confident in our ability to navigate the industry complexities, and remain committed to our ambition to deliver solid, sustainable and above-market growth.”
Jasmeen Dugal is Associate Editor at FashionABC, contributing her insights on fashion, technology, and sustainability. She brings with herself more than two decades of editorial experience, working for national newspapers and luxury magazines in India.
Jasmeen Dugal has worked with exchange4media as a senior writer contributing articles on the country’s advertising and marketing movements, and then with Condenast India as Net Editor where she helmed Vogue India’s official website in terms of design, layout and daily content. Besides this, she is also an entrepreneur running her own luxury portal, Explosivefashion, which highlights the latest in luxury fashion and hospitality.
