MILAN (Reuters) - Italian eyewear maker Safilo (SFLG.MI) has renewed for three years an accord with French luxury giant Kering KRGI.MI to manufacture and supply Gucci-branded products, the companies said on Friday.
The current accord, which had replaced a license agreement for the Gucci brand that Safilo lost after Kering set up its in-house eyewear business, expires in December 2020. The new one will kick in from January.
Shares in Safilo closed up almost 12% on Friday. The stock had risen earlier this week on speculation that Kering could be looking at the Italian company as a possible takeover target.
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Reporting by Claudia Cristoferi, editing by Valentina Za