NEW YORK and MILAN—Luxottica Group and Tiffany & Co. announced the renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and ophthalmic frames under the Tiffany & Co. brand.

“We are very pleased to renew our relationship with Tiffany, one of the highest expressions of luxury and jewelry in the world,” said Leonardo Del Vecchio, executive chairman of Luxottica Group. “Tiffany began its journey into the world of eyewear more than 10 years ago with Luxottica. Together we will continue to make high style, luxury glasses that embody the best of our two worlds.”

Jean-Marc Bellaiche, senior vice president, strategy and business development, Tiffany & Co. added, “Eyewear represents an exciting product offering for Tiffany. Our new agreement with Luxottica allows for a more creative expression in eyewear, with a design language consistent across categories.”

This agreement marks a new era for eyewear at Tiffany, with creative direction overseen by Tiffany & Co,’s chief artistic officer, Reed Krakoff. The agreement is scheduled to expire on Dec. 31, 2027, subject to the terms and conditions therein, the company said.

The first collection from Tiffany under Krakoff is the Avant Premier, which draws on the graphic Tiffany T motif. Select designs are now available at the Fifth Avenue flagship store in New York as part of the new Home & Accessories launch.

This new collection will be available globally across more than 100 Tiffany stores and on Tiffany.com as well as Luxottica’s distribution network of more than 11,000 doors beginning in May 2018.