Tiffany to launch eyewear collection

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Tiffany to launch eyewear collection

December 08, 2006

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New York—Tiffany and Co. has signed a 10-year eyewear licensing agreement, under which Luxottica Group will design, manufacture and distribute eyewear for the jewelry house under the Tiffany and Co. name.

The collection, expected to launch in early 2008, marks Tiffany's first entry into eyewear.

Distribution of the collection will occur in Tiffany stores as well as other retail locations in North America, Asia and the Middle East.

Luxottica expects the line to eventually generate revenues of more than $66.5 million per year.

Luxotica operates almost 5,700 eyewear stores, including Lens Crafters, Pearle Vision and Sunglass Hut in North America, Asia and Europe, and produces eyewear under the names Ray-Ban, Bulgari, Chanel and Dolce and Gabbana, among others. The company designs and manufactures product in six plants in Italy and in two plants in China. Last year, Luxottica posted net sales of $5.6 million.

Tiffany and Co. operates stores and boutiques through America, Asia and Europe and engages in direct-selling through Internet, catalog and gift business operations.

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