As reported, Kering is adjusting its 20-year partnership with Safilo, terminating the current license for the cash-cow Gucci brand at the end of 2016 — two years earlier than planned — in exchange for compensation of 90 million euros, or $99 million at current exchange, to be paid in three installments. Kering will initiate a product partnership with Safilo for four years starting in 2017, with options to renew.