Headlines

EssilorLuxottica to Buy GrandVision

EssilorLuxottica set sights on retail dominance with acquisition

Published

5 years ago

July 31, 2019

VMSD_Olivia

Paris-based, multinational eyewear corporation EssilorLuxottica is buying eye care retailer GrandVision (Schiphol, Netherlands) for 7.2 billion euros ($8 billion), Reuters reported on Wednesday.

The acquisition is the next step in eyecare market control for EssilorLuxottica, the child of the merger between French lens maker Essilor and Italian eyewear retailer Luxottica. Brands under EssilorLuxottica include Ray-Ban (Milan), Oakley (Foothill Ranch, CA) and Versace (Milan).

GrandVision’s chains include Vision Express and For Eyes. With the new deal, EssilorLuxottica will own 7,000 outlets worldwide.

“EssilorLuxottica is looking here to address all the segments of the market, from glasses with Essilor to spectacles with Luxottica and retail with GrandVision,” said Gregoire Laverne, a fund manager with Roche Brune Asset Management told Reuters.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design