Tiffany ties with Luxottica

'As a luxury fashion accessory, eyewear seems like a natural addition for us,' said Michael J Kowalski, chairman and chief executive officer of the 169-year old Tiffany & Co.

'Tiffany's success has always been tied to offering a wide range of extraordinary product designs, in jewellery timepieces, tableware and accessories.'

Luxottica chief executive Andrea Guerra, who described Tiffany as one of the world's most pretigious luxury retailers, said that Tiffany's entry into the eyewear market further demonstrated that eyewear has evolved into a high style, luxury accessory.

Luxottica said distribution would be selective and exclusive and anticipates strong growth from the Tiffany & Co eyewear collections. After the initial launch period and distribution has broadened over time to most markets and channels, Luxottica Group expects the line to generate revenues of at least $50m a year.