The two parties have signed a 10-year licensing agreement to help with Michael Kors’ international expansion. Luxottica said that the first collaboration between the companies will be a Michael Kors collection that will be launched in January 2015.
Italian company Luxottica is the world’s largest eyewear company with control of over 80% of the world’s biggest eyewear brands. U.S.-based Michael Kors is best known for its women’s fashion and accessories.
LUX stock is down 1.5% Tuesday. KORS stock is up 2.5%.