EssilorLuxottica inks 10-year licence deal for Diesel eyewear

EssilorLuxottica has inked a major deal, securing the exclusive licence to design, produce and distribute worldwide the eyewear collections by Italian denim brand Diesel. The 10-year agreement was signed on June 18 2024.

The agreement between EssilorLuxottica and Diesel is effective immediately, and will be valid until December 31 2029, with an automatic renewal option for a further five years. The first Diesel eyewear collection will be available on the market from Q1 2025.
 
The collections will be developed under the aegis of Glenn Martens, Diesel’s creative director. They will tap Gen Z consumers’ growing passion for Diesel, and will be characterised by an irreverent take on new materials and technology. The products will be genderless and have a wide appeal, combining Diesel’s bold, provocative style with EssilorLuxottica’s signature craftsmanship and innovation, and its top-notch retail network. The new agreement builds on a partnership that was first successfully activated in 2022.

“We have long admired Renzo Rosso for his truly disruptive entrepreneurial vision and his unconventional approach. We are excited to share that spirit with consumers around the world, bringing them innovative and highly creative eyewear that is unique to Renzo and the Diesel DNA,” said Francesco Milleri, president and CEO of EssilorLuxottica, in a press release.
 
“I am very proud of the partnership with EssilorLuxottica, a leading global group that stands out for its top-level quality and exceptional know-how,” said Renzo Rosso, president of the OTB group and founder of Diesel. “Diesel is becoming one of the coolest fashion brands, and thanks to its modern and inclusivity-driven approach, it is increasingly catching the eye of the younger generations. I am sure that this agreement will mark a milestone in the brand’s new path and will contribute to consolidating its global positioning,” added Rosso.
 
The EssilorLuxottica group has over 200,000 employees in 150 countries. It operates 650 factories and 18,000 stores, from headquarters in Charenton-le-Pont, France, and Milan. In 2023, the group recorded a consolidated revenue of €25.4 billion. EssilorLuxottica’s portfolio includes high-tech products for eyesight care like Varilux, Stellest and Transitions, iconic eyewear brands like Ray-Ban and Oakley, and a vast number of licenses for the eyewear lines of luxury and fashion labels like Giorgio Armani, Brunello Cucinelli, Burberry, Chanel, Coach, Dolce & Gabbana, Ferrari, Michael Kors, Prada and Ralph Lauren, as well as retail chains like LensCrafters and SunglassHut. The group’s charitable foundation, the OneSight EssilorLuxottica Foundation, has given over 760 million people from disadvantaged communities access to quality vision care. EssilorLuxottica is listed on Euronext Paris, and is included in the Euro Stoxx 50 and CAC 40 stock market indices.
 
The OTB (Only the Brave) group owns fashion and luxury labels Diesel, Jil Sander, Maison Margiela, Marni, and Viktor & Rolf, as well as the Staff International and Brave Kid companies. The group holds a stake in CalifornianAmiri. In fiscal 2023, OTB generated a revenue of €1.9 billion, up by 10.2% at constant exchange rates, and by 7.2% at current rates. Net sales were €1.8 billion, up by 12.4% at constant rates and by 9.1% at current rates. EBITDA was €348 million, and EBIT was €140 million.