ESSILORLUXOTTICA Group: Visionary Leaders in Eyewear
See More, Be More
EssilorLuxottica, A Visionary Union
Formed in 2018, EssilorLuxottica represents a groundbreaking merger of two industry titans: Essilor and Luxottica. This unification harnesses their respective strengths to redefine the global eyecare and eyewear sectors. The group’s journey is steeped in a rich history, encompassing all facets of the eyewear industry – from innovative design and production to global distribution. Its portfolio boasts time-honored brands such as Essilor (1849), Persol (1917), Ray-Ban (1937), and Luxottica (1961), each contributing to EssilorLuxottica’s unique legacy and future vision.
Leonardo Del Vecchio’s Vision
The creation and evolution of EssilorLuxottica can be significantly attributed to Leonardo Del Vecchio, a luminary in the optical industry. Del Vecchio, who founded Luxottica in 1961, was instrumental in transforming eyeglasses from mere medical necessities to coveted fashion items. His strategic acquisitions, including Ray-Ban and LensCrafters, and the pivotal alliance of Essilor and Luxottica under his leadership, positioned the group as a global powerhouse. This visionary approach not only revolutionized the industry but also shaped EssilorLuxottica’s mission to enhance vision and life quality worldwide, a legacy that continues to guide the company’s direction and values today.
In January 2017, Luxottica announced a merger with Essilor6. The combined entity would command more than a quarter of global eyewear sales by value7.5. In March 2018, the European Commission unconditionally approved the merger of Essilor and Luxottica8. On October 1, 2018, the new holding company EssilorLuxottica was born, resulting in a combined market capitalization of approximately $70 billion.
Global Leadership in Eyecare and Eyewear
EssilorLuxottica stands as a global leader in the design, manufacture, and distribution of ophthalmic lenses, frames, and sunglasses. The group’s expansive portfolio includes renowned brands like Ray-Ban, Oakley, and Persol, alongside pioneering lens technologies such as Transitions, Varilux, and Crizal. With a focus on innovation, EssilorLuxottica is also developing new solutions to meet emerging vision care needs, like myopia control through products like Stellest. Their fully integrated model encompasses R&D, product development, and a robust supply chain, enabling the production of high-quality eyewear. Additionally, EssilorLuxottica’s extensive network, which includes 200 e-commerce platforms and 18,000 retail stores, facilitates a deep understanding of market trends and consumer needs. This approach empowers them to foster industry growth and fulfill their mission to help people globally “see more and be more”.
More info about EssilorLuxottica
What is EssilorLuxottica and what does it specialize in?
EssilorLuxottica is an Italian-French vertically integrated multinational corporation specializing in eyewear. Founded in 2018 from the merger of Italian Luxottica and French Essilor, the company designs, produces, and markets ophthalmic lenses, optical equipment, prescription glasses, and sunglasses.
How did the merger between Essilor and Luxottica shape the company?
The merger agreement allowed Essilor to acquire Luxottica, with Luxottica’s leadership, including founder Leonardo Del Vecchio, gaining significant control. This merger resulted in EssilorLuxottica becoming the largest player in the eyewear industry, combining Essilor’s lens technologies and brands like Foster Grant and Costa Del Mar with Luxottica’s portfolio including Ray-Ban, Oakley, Persol, and several retail brands
What are the major retail chains and brands owned by EssilorLuxottica?
EssilorLuxottica is a dominant force in retail sales, owning some of the largest eyewear retail chains in the world, such as Sunglass Hut, Oticas Carol, and LensCrafters. The company also owns online eyewear retailers like Clearly, Eyebuydirect, and FramesDirect.com.
Where is EssilorLuxottica’s head office located?
The head office of the EssilorLuxottica group is located in Paris, France.