Gap Inc. entered into an eyewear deal with De Rigo, the Italian eyewear company, to launch Gap-branded products in the United States, Canada, Mexico and Brazil.
The eyewear deal will include a number of different products including prescription frames and sunglasses. The Gap-branded merchandise is scheduled to be available to consumers in 2022 and will be available through De Rigo's sales network and some Gap retail locations. The licensing agreement is a multi-year deal and creates products for both adults and children.
“Partnering with licensees such as De Rigo gives us the opportunity to amplify our strong, globally relevant brand and extend its reach to customers around the world,” said Adrienne Gernand, a senior vice president of Gap strategic alliances and licensing.
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What's Driving This Trend
- Retail-eyewear Partnerships
- The increasing demands of the eyewear industry mean that retailers will seek business partnerships to develop new products.
- Branded Eyewear Products
- Collaborating with experienced eyewear manufacturers to create branded products can increase revenue and customer satisfaction.
- Multi-product Collaborations
- Creating partnerships that result in multiple products for both adults and children will drive customer loyalty and increase revenue streams.
Who This Affects Most
- Eyewear Manufacturing
- Collaborating with fashion retailers can increase production and distribution capabilities to meet rising eyewear demands.
- Fashion Retail
- Partnering with experienced eyewear manufacturers can create brand new products to offer to their existing customers.
- Licensing and Strategic Alliances
- Retailers can create new revenue streams and increase brand reach by partnering with licensors and strategic alliances.
