Ralph Lauren has a long-term __________ agreement with Luxottica Group, S.p.A., of Milan for the design, production, and worldwide distribution of prescription frames and sunglasses under the Ralph Lauren brand. The agreement is an ideal fit for both companies. Ralph Lauren is a leader in the design, marketing, and distribution of premium lifestyle products. Luxottica is the global leader in the premium and luxury eyewear sector.

Question

Quizplus · Accepted Answer

The agreement between Ralph Lauren and Luxottica is a typical example of a brand licensing agreement, where one company allows another to use its brand name for a certain product or service. In this case, Ralph Lauren has licensed its brand name to Luxottica for the production and distribution of eyewear.

Ralph Lauren Has a Long-Term __________ Agreement with Luxottica Group