The agreement, which goes into effect January 2024, will allow EssilorLuxottica to design, produce and globally distribute Moncler eyewear.
The news comes at a time when the luxury market is experiencing a slowdown after a pandemic boom. Last month, Moncler reported that its topline growth had weakened from 24 percent in the first half of the year to 7 percent in the third quarter. Growth in the luxury market is expected to further slow down in 2024, according to consultancy Bain.
The first Moncler products to be produced by EssilorLuxottica will be released in fall 2024.
The licensing agreement will be in effect until December 2028 with an option to renew the partnership for an additional five years.
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