The licensing agreement between Safilo and Valentino will not be renewed. And the Stock Exchange doesn't like it

An Alexander McQueen does not make a Valentino. At least when it comes to glasses. The renewal in December 2015 with the brand owned by the Gucci Group (Ppr Luxury Group) is not enough to curb the market disappointment with Safilo for the end of the collaboration with Valentino. The stock fell about 3,7% against a 0,19% decline in the market and 1,4% in the consumer goods sector. The eyewear group has declared that the license agreement for the production and distribution of eyewear will expire on December 31, 2011 and will not be renewed by mutual agreement between the parties. “We have mutually agreed to pursue new growth opportunities and we wish Valentino the success he deserves in his future development plans,” said Safilo CEO Roberto Vedovotto.