Eyewear retailer EssilorLuxottica is looking to acquire even more territory, gearing up to expand into Asia, Africa, and Latin America. The Franco-Italian corporation is the parent to well-known brands like Ray-Ban, Oakley, Warby Parker, and many more.
After the French Essilor and Italian Luxottica merged last year, the mega-corporation has refused to be satisfied with its already massive empire, buying the Dutch retailer GrandVision for $8 billion just weeks ago. Vice Chairman Hubert Sagnieres insisted in an interview with Business of Fashion that “GrandVision was just the first step. We won’t stop here and we have the means for more acquisitions,” -as evidenced by EssilorLuxottica’s $59 billion market value.
Aside from external expansion, the corporation has also managed to quell internal squabbles by focusing on bridging the divide between French and Italian sides that arose after the merging of the two companies. Priority one has been for heads of staff and board members to visit the company’s sites all around the world. Sagnieres says that “These trips have been eye-openers. No more E and L on each side. Just one company.”
More details on the company’s goals and successes will be discussed at a capital markets event on September 25th in London.
