Italian eyewear maker Safilo has announced that the
license agreement for the design, production and distribution of Balenciaga sunglasses and prescription eyewear collections will not be renewed once the agreement expires at the end of this year.
In a short statement, Safilo said that its sales of Balenciaga-branded eyewear totalled around 3 million Euros in 2011.
Balenciaga, which is owned by French luxury group PPR, has reached a preliminary agreement with Marcolin to produce its eyewear for five years starting from 2013. The finalisation of the contract is expected by March 31.