optirep
10-25-2006, 05:56 PM
Updated:2006-10-24 10:18:02
Polo Ralph Lauren Inks Deal for Glasses
AP
NEW YORK (AP) - Apparel and accessories maker Polo Ralph Lauren said Tuesday its Club Monaco unit entered into a long-term licensing agreement with a U.S. subsidiary of Italian eyewear maker Luxottica Group SpA to create prescription frames and sunglasses under the Club Monaco brand.
Financial terms were undisclosed. The glasses will be available in the summer of 2007 in the U.S. and Canada.
Polo Ralph Lauren signed a deal with Luxottica in February to create eyewear under its own name. The agreement is effective Jan. 1 and the new collection will be available in early 2007.
Luxottica, based in Italy, has 5,700 retail stores globally. Polo Ralph Lauren designs, markets and distributes products in the apparel, home, accessories and fragrances sectors, under brand names including Polo by Ralph Lauren, Ralph Lauren Purple Jacket, and others.
Polo Ralph Lauren shares rose $1.61, or 2.4 percent, to $70.04 during morning trading on the New York Stock Exchange.
Copyright 2006 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
10/24/06 10:16 EDT
Polo Ralph Lauren Inks Deal for Glasses
AP
NEW YORK (AP) - Apparel and accessories maker Polo Ralph Lauren said Tuesday its Club Monaco unit entered into a long-term licensing agreement with a U.S. subsidiary of Italian eyewear maker Luxottica Group SpA to create prescription frames and sunglasses under the Club Monaco brand.
Financial terms were undisclosed. The glasses will be available in the summer of 2007 in the U.S. and Canada.
Polo Ralph Lauren signed a deal with Luxottica in February to create eyewear under its own name. The agreement is effective Jan. 1 and the new collection will be available in early 2007.
Luxottica, based in Italy, has 5,700 retail stores globally. Polo Ralph Lauren designs, markets and distributes products in the apparel, home, accessories and fragrances sectors, under brand names including Polo by Ralph Lauren, Ralph Lauren Purple Jacket, and others.
Polo Ralph Lauren shares rose $1.61, or 2.4 percent, to $70.04 during morning trading on the New York Stock Exchange.
Copyright 2006 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
10/24/06 10:16 EDT