Safilo renewed its license agreements with Fossil and Kate Spade, which were both due to expire at the end of this year. Fossil has been extended to the end of 2023 and Kate Spade to the end of 2020. Kate Spade was taken over last year by Coach, which in the meantime changed its name to Tapestry and became an umbrella company for the Coach, Kate Spade and Stuart Weitzman brands. With the change of ownership, there was speculation that the Kate Spade license could shift to Luxottica, which holds the Coach license for eyewear. The renewal of the Kate Spade license does not include a men's brand, Jack Spade, whose license also expires this year but represents a very marginal business for Safilo.