Diesel deal to end this year

Safilo and fashion brand Diesel have jointly said they will not renew the licence agreement for the production and distribution of Diesel sunglasses and prescription eyewear after its expiry date on December 31.

Roberto Vedovotto, chief executive officer of Safilo group, commented: 'We regret we could not reach a shared vision on Diesel's future strategic development in the eyewear sector and in line with Safilo group's economic and financial targets for the renewal of its licence portfolio.'

The company underlined that the Diesel licence represented approximately 2 per cent of Safilo's total revenues for 2009.