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Luxottica Signs 10-Year Deal with Prada

Italian eyewear maker Luxottica said on Wednesday it had signed a 10-year licence to make glasses and sunglasses for Milanese fashion Prada house but did not give a value for the deal.

In a statement, Luxottica said it would buy an eyewear production and distribution company owned by Prada for 26.5 million euros. Earlier on Wednesday, rival De Rigo said it had sold out of an eyewear joint venture with Prada.

Luxottica said it would present its first collections for the Prada and Miu Miu labels in September 2003. The glasses will be designed by Prada's style force Miuccia Prada while Luxottica will oversee the production and distribution.

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