While working on other new deals, L'Amy has signed a global, five-year license agreement for a collection of luxury men's sunglasses and optical frames to be sold under the Canali brand from next March. Made in Italy's Veneto region, it will initially consist of 14 prescription frames and 15 sunglasses in three colors. It will be shown at next February's Mido fair in Milan by appointment only.
Technically, the contract has been signed by L'Amy America, the highly dynamic U.S. subsidiary of the French group by the same name, but it will be made available with special displays and packaging at selected locations worldwide, including Canali's own stores and its web shop.
The U.S. is the biggest markets for Canali, representing 42 percent of its sales. Aside from a line of shoes, eyewear is the first major diversification for this Italian company, founded in 1939, which is known for its tailored men's suits. The company had relatively stable sales of €216 million last year, with growth in the U.S., China, Russia and the U.K.
Canali has 40 directly-operated stores and 140 franchises around the world. Its clothing is also sold in some 1,000 multi-brand stores worldwide.
Like L'Amy in France, L'Amy America is wholly owned by the International Licensing Group (ILG), which also markets watches, jewelry and leathergoods. Formerly called TWC, in 2015 ILG acquired all their shares it didn't own before.
The Canali license comes after L'Amy's acquisition a few months ago of Henri Jullien, a French brand of high-end eyewear made in the Jura region. Besides its house brand, TLG, other brands in L'Amy's portfolio are Ann Taylor, Balmain, Cerruti 1881, Champion, Kenzo, New Balance, Nicole Miller and Sperry, among others. Some licenses are limited territorially.
Unlike Logo Eyewear, another French company that has gone under, L'Amy is believed to be profitable with sales of about €50 million, half of which are generated by the American company.
In April, the shareholders appointed a new global chief executive for the whole L'Amy Group, Dominique Alba, with a lot of experience in the sector who in the past led Logo and other companies including Alain Mikli. He took the place of Stephen Rappoport, who remains president and CEO of L'Amy America.