×
21
Fashion Jobs
PUMA
Public Relations Coordinator
Permanent · Cape Town
L'OREAL GROUP
Medical Area Manager
Permanent · Johannesburg
ADIDAS
Director Key Accounts - Ems
Permanent · CAPE TOWN
ESTÉE LAUDER
Estee Lauder - Roaming Consultant - Edgars Fourways - 173 Hours - Full-Time - Permanent
Permanent · Johannesburg
L'OREAL GROUP
Internal Control Manager
Permanent · Johannesburg
ADIDAS
Deputy Store Manager - Stoneridge FO
Permanent · JOHANNESBURG
ADIDAS
Senior Store Manager - Eastgate Homecourt
Permanent · JOHANNESBURG
ADIDAS
Retail Sales Associate - Stoneridge FO
Permanent · JOHANNESBURG
ADIDAS
HR And Payroll Administrator - Ems
Permanent · CAPE TOWN
ADIDAS
dc Ops & Transport Management Specialist Ems
Permanent · CAPE TOWN
ADIDAS
Senior Manager Order Fulfillment - em South
Permanent · CAPE TOWN
LOVISA
Store Manager
Permanent · RUSTENBURG
LOVISA
Store Manager
Permanent · GERMISTON
ADIDAS
Management Trainee Retail Finance
Internship · CAPE TOWN
ADIDAS
Management Trainee Digital & Social Media
Internship · CAPE TOWN
ADIDAS
Management Trainee Wholesale
Internship · CAPE TOWN
ADIDAS
Management Trainee Brand Activations
Internship · CAPE TOWN
L'OREAL GROUP
Regional Multi-Brand Education Developer - Kzn
Permanent · Durban
ESTÉE LAUDER
Corporate Counter Manager - Clicks Clearwater - 40 Hours - Full-Time, Permanent
Permanent · Johannesburg
ESTÉE LAUDER
Estee Lauder - Roaming Beauty Advisor - Edgars Menlyn Park - 43.25 Hours - Full-Time - Permanent
Permanent · Johannesburg
ESTEE LAUDER
la Mer - Expert - Edgars, Westville - 40 Hours - Full-Time, Permanent
Permanent · DURBAN
By
Reuters API
Published
Sep 14, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

In new era, Ray-Ban owner extends partnership with Armani

By
Reuters API
Published
Sep 14, 2022

Eyewear maker EssilorLuxottica extended its partnership with Armani in a sign of continuity on Wednesday as it held its first capital markets day since the death of chairman and main shareholder Leonardo Del Vecchio in June.




The owner of the Oakley and Ray-Ban sunglass brands extended its licensing deal with Giorgio Armani's luxury group for a further 15 years.

The partnership dates back to 1988 when Del Vecchio and the renowned fashion designer teamed up to bring Armani-branded glasses to a global market. The move is widely seen as driving a revolution that helped to turn glasses into a fashion accessory rather than a medical device.

Del Vecchio, who founded the frame manufacturer Luxottica in 1961 and built an industry leader that merged with French lens maker Essilor in 2018, died three months ago at the age of 87.

His right-hand man and chief executive Francesco Milleri immediately added Del Vecchio's role as chairman to ensure a smooth transition for a group that employs 180,000.

"In keeping with Leonardo Del Vecchio's vision, with Armani we inaugurate a new long-term partnership model that will anchor us in the same spirit for many years to come," Milleri said in a statement.

COST PRESSURES

The company also said it was dealing with the impact of rising costs, in common with other businesses.

"Energy inflation is impacting strongly (in) EMEA which is important for luxury made in Italy," Chief Operating Officer Giorgio Striano told analysts.

The company had some protection because many of its frames and lenses were actually produced outside of Europe in areas where energy inflation was more contained, but he added that wage inflation was an issue everywhere.

However, Milleri said the company was not transferring higher costs to consumers through price increases because of efficiency measures it was taking.

Milleri also took the reins of Del Vecchio's 27 billion euro holding company.

In addition to a 32% stake in EssilorLuxottica, the Delfin holding is a major shareholder in Paris-listed Covivio and a key investor in three top Italian financial companies Mediobanca, Generali and UniCredit.

After sound revenue growth and strong margin expansion in the first half of the year, EssilorLuxottica confirmed in July its medium-term targets for an adjusted operating profit between 19% and 20% of revenue by 2026, up from 17% in 2021.
 

© Thomson Reuters 2023 All rights reserved.