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Is that You behind those Tiffany Sunglasses?
Diamond and jewelry retailer Tiffany & Company has signed with Luxottica to manufacture and distribute Tiffany eyeglass frames and sunglasses.
The agreement marks Tiffany's entrance into the eyewear market, with the launch of its first luxury brand collection scheduled for early 2008.
"As a luxury fashion accessory, eyewear seems like a natural addition for us," said Michael Kowalski, chairman and CEO of Tiffany. "Tiffany's success has always been tied to offering a wide range of extraordinary product designs, in jewelry timepieces, tableware and accessories."
Luxottica chief executive Andrea Guerra said that Tiffany's entry into the eyewear market further demonstrated that eyewear has evolved into a high style, luxury accessory. Luxottica said distribution would be selective and exclusive and anticipates strong growth from the Tiffany & Co eyewear collections.
The Luxottica Group expects the Tiffany line to generate revenues of at least $50 million a year.
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