RTTNews | Jun 25, 2021 03:09AM EDT

03:08 Friday, June 25, 2021 (RTTNews.com) - French ophthalmic company EssilorLuxottica SA (ESLOF.PK, ESLOY.PK) announced Friday the renewal of an exclusive license agreement with New York-based fashion brand Coach, part of Tapestry, Inc. (TPR).

The deal is for the design, production and worldwide distribution of prescription frames and sunglasses globally under the Coach Eyewear brand. The five-year agreement will come into effect on July 1 and run until June 30, 2026 with the potential for a five-year extension.

Francesco Milleri, CEO of EssilorLuxottica, said, "EssilorLuxottica is delighted to renew and further develop its partnership with Coach, a leading design brand which represents authentic craftsmanship and luxury modern American style. Through our new branded eyewear collections, we continue to build loyalty and strengthen our emotional connection with Coach's clients around the world."

Earlier this week, EssilorLuxottica renewed its exclusive license agreement with American luxury lifestyle brand Tory Burch for the development, production and worldwide distribution of sunglasses and prescription frames under the Tory Burch brand.

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