Editor’s Note
Kering has consolidated its control over Balenciaga by bringing the brand’s eyewear license in-house, ending its partnership with Marcolin. The first collection under this new arrangement is set to launch in January 2019.
Balenciaga continues its journey in eyewear. The company, owned by Kering, has transferred the manufacturing and distribution of its eyewear collection to Kering Eyewear, the eyewear division of the French luxury conglomerate. Until now, the company’s license was in the hands of the Italian manufacturer Marcolin. This first collection of Balenciaga eyewear with Kering will go on sale in January 2019.
Kering created its eyewear division in 2014 to take control of the production and distribution of the eyewear lines for Gucci, Saint Laurent, and Alexander McQueen, among others. At the helm of Kering Eyewear is Roberto Vedovotto, former CEO of Safilo.
The French conglomerate is also responsible for developing and distributing the eyewear lines for third-party brands such as Cartier. Last year, the company established a joint venture with Richemont, the owner of the jewelry firm, to take over the development of this business line.
Kering concluded the 2017 fiscal year with a net profit of 1.7856 billion euros, more than double the previous year. The company’s business figure rose by 25%, reaching 15.4777 billion euros.
