The proposed merger of international eyecare heavyweights, Essilor and Luxottica, is all but a done deal after being unconditionally cleared by both the European and US Federal Trade Commissions.
In other news, Essilor reported solid 2017 earnings with good overall performance in its lenses and optical instruments divisions, reflecting strong online sales and US growth and offsetting lower sales in other areas, notably Australia and Brazil; while Luxottica said it had acquired a 67% stake in the Japanese titanium and solid gold specialist frame manufacturer Fukui Megane.
“The transaction has an important strategic value as it establishes Luxottica’s entry into the production heart of ‘made in Japan’ in the Fukui eyewear district and the acquisition of a truly unique manufacturing capability,” said Luxottica in a press release.
"The acquisition of Fukui Megane represents a first step for the entry of our Group in the world of Japanese production. We intend to continue investing to recreate a productive pole of excellence in Sabae, in line with the Luxottica model. For the first time in the history of eyewear, we will have under the same roof two great artisan schools such as the Italian and the Japanese ones," said Leonardo Del Vecchio, Luxottica’s executive chairman.
