Safilo renews key Gucci license with Kering for three years

Italian eyewear maker Safilo has renewed for three years an accord with French luxury giant Kering to manufacture and supply Gucci-branded products, the companies said on Friday.

The current accord, which had replaced a license agreement for the Gucci brand that Safilo lost after Kering set up its in-house eyewear business, expires in December 2020.

The new one will kick in from January.

Shares in Safilo closed up almost 12% on Friday.

The stock had risen earlier this week on speculation that Kering could be looking at the Italian company as a possible takeover target.