Safilo has renewed until Dec. 31, 2015 a license agreement for prescription and sunglasses with Yves Saint Laurent (YSL) and prolonged a similar deal with Bottega Veneta until Dec 31, 2020. Both fashion brands are part of the Gucci Group and their licensing deals with Safilo were scheduled to expire at the end of last year. The renewal of the licenses was largely expected after Safilo and Gucci agreed in 2008 to extend their partnership until the end of 2018.
Financial analysts estimate that YSL and Bottega Veneta together represent about 2-3 percent of Safilo's turnover and that the financial terms of the license contracts remained largely unchanged. This year, Safilo's license deals with Nine West, JLO by Jennifer Lopez, Saks Fifth Avenue and Valentino are scheduled to expire. The JLO by Jennifer Lopez license has a two-year renewal option and the Nine West a three-year renewal option. Safilo has warned that it will not hold on to licenses at any price. Last year it dropped the Diesel license, which had been in its portfolio since 1994.