EssilorLuxottica this week continued a recent flourish of dealmaking.
The global eyewear company announced Thursday that it has renewed and expanded its partnership with Ferrari. The new multi-year agreement takes effect January 1. It builds on a partnership which began in 2016.
EssilorLuxottica will continue to design, produce and market eyewear products featuring the Scuderia Ferrari and Ray-Ban brands. In addition, the new deal includes a license to feature Ferrari’s Prancing Horse trademark on a new eyewear collection.
Under terms of the new deal, EssilorLuxottica will increase its motorsports sponsorships.
The Ray-Ban logo will continue to adorn Formula 1 race cars. In addition, it now will “appear for the first time on the cars and apparel of the official drivers in Competizioni GT, competing in the World Endurance Championship with the Le Mans Hypercar and in a Gran Turismo championship with GT3 cars.”
“As of today, Ferrari is preparing to achieve new goals with EssilorLuxottica: from the first exclusively Ferrari-branded eyewear line, to the challenges awaiting us on the circuits in the motorsport seasons ahead,” said Benedetto Vigna, CEO of Ferrari, in a press release. “Starting from a common history of excellence and authentically shared values, we want to build further exciting projects together with the millions of fans and customers who choose us and believe in this constantly developing collaboration.”
EssilorLuxottica’s latest announced deal comes on the heels of recently forged separate agreements with Swarovski and Brunello Cucinelli.