Luxottica to renew with Bulgari

Luxottica Group and Bulgari, the contemporary Italian jeweller, today announced the renewal of the licensing agreement for the design, production and worldwide distribution of prescription frames and sunglasses.

The licensing agreement provides for continuation of the terms and conditions of the current contract, which was originally due to expire in December 2006 and will now expire in December 2010.

Leonardo Del Vecchio, chairman of Luxottica Group, commented: 'Bulgari is one of the most important luxury brands worldwide, and one for which we see opportunities for continued growth. We are therefore pleased to have come to an early renewal of this important partnership. In our view, this confirms that our recognized leadership in design, production quality and global distribution makes Luxottica Group the ideal partner for the more prestigious designer brands'.

Francesco Trapani, Chief Executive Officer of the Bulgari Group, commented: 'It is with great satisfaction that Bulgari renewed the agreement with Luxottica Group, certainly one of the most important companies in the eyewear sector. Our successful six-year partnership proved the perfect combination of Luxottica Group's expertise and focus on quality and Bulgari's unmistakable and prestigious style in creating innovative products'.