Safilo says Jimmy Choo deal will end, it's in talks on Longarone plant with Thelios

By

Sandra Halliday

Published
June 26, 2023

Italian eyewear giant Safilo group has announced the termination of its licensing agreement for the design, production and distribution of the eyewear collection of British brand Jimmy Choo.

The company said it “will reach its natural expiration date” on 31 December this year “and will not be renewed”. The two groups will “continue to work together until the end of the licensing agreement”.

No reason was given for the end of the deal between Safilo and the luxury shoes and bags firm that’s part of Capri Holdings’ trio of mega-brands (along with Michael Kors and Versace).

Safilo retains a large portfolio of licensed brands, although it doesn’t have deals with either of the other two Capri-owned labels.

Its current licenses include Banana Republic, Boss and Hugo, Carolina Herrera, Chiara Ferragni, Dsquared2, Etro (starting from 2024), Eyewear by David Beckham, Fossil, Isabel Marant, Levi’s, Love Moschino, Marc Jacobs, Missoni, and Tommy Hilfiger.

Meanwhile, Safilo also said on Monday that following its previous communication concerning the evaluation of a possible transfer of its Longarone plant to a potential third-party, it’s in “advanced negotiations” with Thelios SpA. The six-year-old eyewear specialist is part of the LVMH Group.

Safilo said the transfer of the plant “would allow [it] to preserve the plant’s know-how and to retain a significant number of its employees”.

It added that this “important transaction is part of a wider context of ongoing negotiations, through which the company aims to limit the social impact of this intervention”.