Luxottica Extends Eyewear Deal with Chanel

ars with an option for another three. Financial terms were not announced.

Luxottica’s marketing director Antonio Miyakawa said the deal solidifies the Italian company’s leadership in the luxury end of the market.

The arrangement is focused on exclusivity, with the Chanel brand to be offered to 4 percent of the optical shop market worldwide, just a fraction of Luxottica’s reach, Miyakawa said.

Luxottica, the largest eyewear manufacturer in the world by sales, also produces sunglasses under the Ray-Ban brand and recently completed the purchase of Oakley.