MILAN--Luxottica Group (MTA: LUX; NYSE: LUX) and Prada S.p.A., part of Prada Group, have announced the renewal of an exclusive license agreement for the design, production and worldwide distribution of prescription frames and sunglasses under the Prada and Miu Miu brands. The 10-year agreement will extend through Dec. 31, 2025.

“We are extremely proud of our collaboration with Prada Group and the beautiful and innovative frames we are creating together,” said Adil Khan, Luxottica’s CEO of markets. “Prada and Miu Miu are truly global and iconic brands and we look forward to continuing our successful partnership in the years ahead.”

The partnership between Luxottica and Prada Group illustrates a deep and on-going commitment to true Italian excellence based on creativity, craftsmanship and innovation, the company said.

Patrizio Bertelli, Prada Group’s CEO, added, “We are very pleased to announce the renewal of our co-operation with Luxottica which, thanks to its leadership in the international markets, is the ideal partner to boost our brands’ identities.”