The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BRUSSELS, Belgium — Italy's Luxottica and French glasses group Essilor are set to win unconditional EU antitrust approval for their 48-billion-euro ($56.8 billion) merger, two people familiar with the matter said on Thursday.
The deal between Luxottica, the world's biggest eyeglass frame maker, and Essilor, the world No. 1 lens maker, would create a company that would make products ranging from Ray-Bans to Giorgio Armani frames and have a major eyeglass retail outlet.
The European Commission, which had some initial concerns about the mega deal, declined to comment. Luxottica also declined to comment.
The deal was worth 46 billion euros when it was unveiled in January. The companies' higher share prices since then has pushed up the figure to 48 billion euros.
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Luxottica's brands include Ray Ban and Persol, and licensed names such as Chanel and Armani.
By Foo Yun Chee and Julia Fioretti, with additional reporting by Agnieszka Flak in Milan; Editor: Philip Blenkinsop.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
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