by Karl Utermohlen | April 15, 2014 8:46 pm
Luxottica (LUX) and Michael Kors (KORS) have teamed up to help expand the latter’s eyewear business on a global level.
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%.
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