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Safilo renews key Gucci supply accord with Kering for three years

Reuters
Updated
The logo of Kering is seen during the company's 2015 annual results presentation in Paris

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.

(This story removes extraneous word in first paragraph)

(Reporting by Claudia Cristoferi, editing by Valentina Za)