Hello BoF Professionals, welcome to our latest members-only briefing: The Week Ahead. Think of it as your "cheat sheet" to what everyone will be talking about on Monday.

THE CHEAT SHEET

Showdown in Sunglasses

EssilorLuxottica owns Ray-Ban and licenses for numerous luxury brands | Source: Flickr

• The former heads of Essilor and Luxottica have battled for control since completing a merger of their two companies last year
• To break the deadlock, large investors nominated a slate of independent board members; shareholders vote at the general meeting on May 16
• EssilorLuxottica owns Ray-Ban and licenses for numerous luxury brands, including  Armani, Burberry, Prada and Versace

If you've bought a pair of glasses recently — whether Ray-Bans, Chanel shades or prescription eyewear — there's a nearly one-in-three chance they were made by EssilorLuxottica. The company, formed from a merger of Luxottica and Essilor completed last year, controls valuable licenses for top luxury brands and operating some 9,000 Sunglass Huts, LensCrafters and other retail locations. The catch: Essilor chief Hubert Sagnieres and Luxottica founder Leonardo Del Vecchio both want to run the combined entity, and neither has the power to bend the other to his will. The deadlock has prevented the company from enjoying hundreds of millions of dollars in promised post-merger savings or addressing slowing growth, and shares have tumbled 20 percent since the deal was completed. After letting the two duke it out for months, some investors have had enough, calling for the election of a slate of independent directors to end the feud. The message appears to have gotten through: Sagnieres and Del Vecchio are reportedly working on a peace deal.

The Bottom Line: EssilorLuxottica's commanding market share shields it from the worst effects of poor governance, but direct-to-consumer start-ups and an LVMH-backed rival are no doubt rooting for the internal battle to rage on. 

Fashion Loves an Ambitious Climate Target. Will Action Follow?

Source: Copenhagen Fashion Summit

• The Copenhagen Fashion Summit will be held May 15-16
• Numerous companies, from H&M to Burberry to PVH, will outline their sustainability plans
• Kering will announce new action related to a 2017 charter signed with LVMH regarding the treatment of models

The Bottom Line: Road maps and charters are a good first step, but the industry is nearing the point where it needs to show progress. 

Fashion and Technology Meet in Paris

LVMH's Bernard Arnault at the Viva Technology conference | Source: LVMH

• VivaTech, held May 16-18 in Paris, is France's leading technology trade show
• The event, now in its fourth year, has become a major venue for exploring the intersection of fashion and technology
• Bernard Arnault will announce the winner of the third LVMH Innovation Award

The Bottom Line: E-commerce sales are booming, but fashion has historically been slow to adopt new technology. Fashion's embrace of VivaTech is one indicator that's changing.

Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.

COMMENT OF THE WEEK

Brandon Maxwell and Lady Gaga at the Met Gala | Source: John Shearer/Getty Images for THR

"Isn't monetisation more important than social media mentions? Yes, exposure is great but will that turn into actual sales?" @royalstylewatch, commenting on "Capitalising on the Met Gala Moment Is Harder Than it Looks."

SUNDAY READING

Professional Exclusives You May Have Missed: 

• Why Ulta is winning the war for America's youth.
• The clothing rental market's broadening appeal.
• Why fast-fashion brands are fleeing China.
• Kering's shopping list should include these brands.
• Inside the battle to be the next Sephora.
• Capitalising on the Met Gala moment is harder than it looks.
• The future of Chanel.

The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to brian.baskin@businessoffashion.com. 

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