Levi Strauss & Co. wants a piece of the $167-billion eyewear market.
The denim brand announced Wednesday a multi-year global licensing agreement with eyewear company Safilo Group for the design, manufacturing and distribution of Levi’s branded eyewear.
The agreement will come into effect in January 2020, with collections hitting the market for the Spring/Summer 2020 season and will run until November 2024. The agreement is renewable for an additional five years.
“Eyewear is an important product category for the Levis brand,” said Karyn Hillman, chief product officer for Levi Strauss & Co. “Our partnership with Safilo will allow us to further strengthen our position as a true lifestyle brand by offering amazing eyewear to consumers around the world.”
Safilo offers Levi’s access to its extensive wholly-owned network of subsidiaries in 40 countries in North and Latin America, Europe, Middle East and Africa, and Asia Pacific and China. The company has more than 50 distribution partners in key markets and products in nearly 100,000 selected sales stores worldwide. Its licensed brands portfolio spans designer labels from Dior, Givenchy and Fendi to Rag & Bone and Tommy Hilfiger.
“This new partnership is particularly significant for our brand portfolio, the Levi’s brand being the number one denim brand globally which genuinely appeals to millennials and Gen-Zers all over the world,” says Angelo Trocchia, Safilo Group CEO. “With the Levi’s brand, we add an important opportunity to grow in the contemporary market segment, which is the largest for size and development potential and especially appealing for further development in key emerging markets, such as China.”