Armani Group and Luxottica Sign Letter of Intent

By: Antonio Chirumbolo
SUNY 2013

November 27th 2011- The Armani and Luxottica Groups have announced the signing of a Letter of Intent, which will see an exclusive license agreement for the designing, manufacturing, and distribution of eyeglasses including prescription spectacles and sunglasses beginning January 2013. The Letter of Intent is only preliminary and will serve as a stepping stone for a potential ten-year licensing agreement. The Armani Group has already informed the Safilo Group (a leader in eyewear and one of the largest manufactures of optical frames and sunglasses) that they will not renew their contractual license beyond its expiration on December 31st, 2012.

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