Safilo has announced that it is severing ties with Italian fashion brand Max Mara in October, ending a partnership spanning almost 23 years.
A statement said both parties had agreed to terminate the license Safilo held to produce and distribute Max Mara sunglasses and optical frames, falling several years short of the originally agreed expiry date of December 2023.
The agreement will end on 31 October, 2020. In 2019, Safilo reported that the Max Mara license represented less than 2% of Safilo Group’s net sales.
Safilo and Max Mara signed their first agreement in 1997, with the latter launching its first optical frames collection a year later.
In September 2016, both companies announced an early renewal of the licensing agreement that was meant to remain in place until the end of 2023.
At the time, they championed their shared Italian heritage, with Safilo executives stating that Max Mara had become one of the fastest growing brands in its portfolio.
Safilo’s brand portfolio consists of a mix of proprietary and licensed brands. It has six proprietary brands, which includes the recent acquisition of a 70% stake in California company Blenders Eyewear for US$63.9 million (AU$92.7 m)
It has 25 licensed brands, including Jimmy Choo, Hugo Boss and Dior, as well as a new 10-year licensing agreement with former English footballer and global celebrity David Beckham.
Max Mara designs target the financially independent modern woman, aged between 30 and 50, searching for elegant and sophisticated eyewear that’s characterised by classical details. The products are sold globally, particularly in the European and Far East markets.