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Essilor-Luxottica Merger Complete

Editor's Note: This merger creates a vertically integrated market behemoth in the eyewear space, covering frames, lenses, optometry, fashion brands and retail/online product distribution.

Expect Essilor-Luxottica to be a significant player in a consumer augmented reality eyewear ecosystem based on their market dominance and investment in the area of near-eye display optical design. 61% of the population require corrective lenses.

Essilor-Luxottica Merger Complete

Essilor and Luxottica have successfully completed a €48 billion (AU$76.9 b) merger, 20 months after news of the deal first broke.
The combination of the world’s largest lens maker with the largest frame manufacturer will generate expected annual revenue in excess of €16 billion (AU$25.64 b), and employ nearly 150,000 people.
“The creation of EssilorLuxottica is a defining moment in our fight to elevate the importance of good vision as both a basic human right and a key lever for global development.”
Hubert Sagnières, EssilorLuxottica
“We are at the beginning of a new chapter in our history in which we so strongly believe, bringing together frames and lenses under the same roof and completing our vertically integrated business model,” Del Vecchio said.
“We will enhance the excellences of Luxottica and Essilor to improve the service level and offer consumers around the world ever better products that leverage on our most beloved brands with cutting-edge lens technologies. We will expand our offer and foster the development of our customers’ business and the entire industry.”