EssilorLuxottica

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EssilorLuxottica SA
Company typeSociété Anonyme
Euronext Paris: EL
CAC 40 component
Euro Stoxx 50 component]
ISINFR0000121667
IndustryEyewear, Eye care
PredecessorEssilor
Luxottica
Founded1 October 2018; 5 years ago (2018-10-01)
Headquarters
Paris
,
France
Key people
Leonardo Del Vecchio (Chairman)
Francesco Milleri (Chief Executive Officer)
Paul du Saillant (Deputy Chief Executive Officer)
ProductsOphthalmic lenses, optical equipment, prescription glasses and sunglasses
BrandsRay-Ban
Oakley
Michael Kors
Varilux
Crizal
Transitions Optical
LensCrafters
RevenueDecrease €14.429 billion (2020)[1]
Decrease €452 million (2020)
Decrease €149 million (2020)
Total assetsDecrease €52.318 billion (2020)
Total equityDecrease €32.798 billion (2020)
SubsidiariesEssilor
Luxottica
Websitewww.essilorluxottica.com
EssilorLuxottica's former logo used from 2018 to 2022

EssilorLuxottica SA is a French-Italian vertically integrated multinational corporation based in Paris and founded on 1 October 2018 from the merger of the Italian Luxottica with the French Essilor. The group designs, produces and markets ophthalmic lenses, optical equipment, prescription glasses and sunglasses. The company has a portfolio of proprietary and licensed brands including Ray-Ban, Oakley, Michael Kors, Varilux, Crizal, Transitions and LensCrafters. EssilorLuxottica is currently a global leader in the design, production and sale of ophthalmic lenses and frames

The company has €14.4 billion in revenues and €38.2 billion capitalization.

The company is listed on the Euronext Paris stock exchange under the trading symbol EL and is part of the CAC 40 share index which includes the 40 largest capitalized companies traded on the Paris Stock Exchange and the Euro Stoxx 50 which includes the 50 largest companies in the Eurozone.

Market dominance

The company dominates the global eyewear market as the largest single player in that market.[2][3]

They own the following companies: Clearly (Clearly.ca/Coastal.com), Eyebuydirect, FramesDirect.com, LensCrafters, OPSM, Pearle Vision, Sears Optical, Sunglass Hut, Target Optical, Vision Direct, Vision Source, and more. The company has been accused of being a borderline monopoly by using their market dominance to unfairly increase the cost of their products.[4] This predatory behavior was a subject in the episode "Adam Ruins Malls," from the series Adam Ruins Everything.[5]

Combination of Essilor and Luxottica

In January 2017, Essilor and Luxottica announced the merger of their activities. After having received the necessary authorizations from the competition authorities of the United States, the European Union, Brazil, Canada and China, EssilorLuxottica was created on October 1, 2018.[6]

This merger gives birth to a giant of the optical industry, generating a turnover of more than 16 billion euros and a market capitalization of 57 billion euros.[7]

This merger was achieved by changing Essilor's corporate name to EssilorLuxottica and launching a public exchange offer.[8]

Delfin S.a.r.l. (a company controlled by Leonardo Del Vecchio, former majority shareholder of Luxottica) then held 62.42% of Luxottica, a share that it contributed to EssilorLuxotica. Delfin also became the main shareholder of the new group with 38.9% of the capital.[9]

Brands

According to its website,[10] it owns the following lens technologies:

And the following eyewear brands:

References

  1. ^ EssilorLuxottica (12 March 2021). "Full year 2020 results" (PDF). EssilorLuxottica. Retrieved 23 March 2021.{{cite web}}: CS1 maint: url-status (link)
  2. ^ Knight, Sam (2018-05-10). "The spectacular power of Big Lens | The long read". the Guardian. Retrieved 2021-05-13.
  3. ^ Parisi, Danny (2019-05-16). "How independent eyewear brands compete with EssilorLuxottica". Glossy. Retrieved 2021-05-13.
  4. ^ Lazarus, David (2019-03-05). "Column: How badly are we being ripped off on eyewear? Former industry execs tell all". Los Angeles Times. Retrieved 2021-05-13.
  5. ^ "The Conspiracy Behind Your Glasses - Adam Ruins Everything". YouTube. 2016-09-14. Retrieved 2021-11-20.
  6. ^ "Essilor et Luxottica annoncent une fusion à 50 milliards d'euros". Investir. 2017-01-16. Retrieved 2019-05-21.
  7. ^ "16 milliards de CA pour EssilorLuxottica et des prévisions de croissance jusqu'à 5 %". Fréquence optic. 2019-03-08. Retrieved 2019-05-21.
  8. ^ "Essilor et Luxottica finalisent leur fusion, créant un nouveau géant de l'optique". Investir. 2018-10-01. Retrieved 2019-05-21.
  9. ^ "EssilorLuxottica contrôle désormais 93,31 % des actions Luxottica". Zone bourse. 2018-11-28. Retrieved 2019-05-21.
  10. ^ "Brands".

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=EssilorLuxottica&oldid=1109752888"