LUX, KORS: Luxottica, Michael Kors Team Up in 10-Year Eyewear Deal

by Karl Utermohlen | April 15, 2014 8:46 pm

LUX, KORS: Luxottica, Michael Kors Team Up in 10-Year Eyewear Deal

Luxottica (LUX[1]) and Michael Kors (KORS[2]) have teamed up to help expand the latter’s eyewear business on a global level.

Michael Kors 185 LUX, KORS: Luxottica, Michael Kors Team Up in 10 Year Eyewear Deal[3]The two parties have signed[4] 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%.

Endnotes:
  1. LUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=LUX
  2. KORS: http://studio-5.financialcontent.com/investplace/quote?Symbol=KORS
  3. [Image]: http://investorplace.com/wp-content/uploads/2014/02/Michael-Kors-185.jpg
  4. have signed: http://www.reuters.com/article/2014/04/15/luxottica-group-kors-idUSI6N0MW01E20140415

Source URL: http://investorplace.com/2014/04/lux-kors-luxottica-michael-kors/
Short URL: http://invstplc.com/P4aAUZ