Kering Pulls Design In-House and Why

"In September 2014, French luxury conglomerate Kering announced that it was bringing most of its eyewear business in-house," starts the Moodie Report. "It was a major step on every level. Until then, nine out of 11 Kering eyewear brands had been managed through licence agreements (with five different partners), generating consolidated royalties of approximately €50 million. Kering’s partnership with its major partner, Safilo, included eyewear licences for such lustrous names as Gucci, Bottega Veneta, Saint Laurent and Alexander McQueen. The decision to repatriate the brands in-house followed a lengthy assessment of growth prospects in the burgeoning eyewear category, particularly in the luxury and sport & lifestyle sectors that Kering’s main brands are part of." Read more.