Luxottica Group acquires Shoppers Optical for €47m
19 May '06
3 min read
Shoppers Optical's business model is highly synergetic with Luxottica Group's existing retail operations in Canada.
Historically a strong business, it already enjoys full integration of systems supporting the sales, service and manufacturing processes. In addition, this acquisition will bring into the organization the first full-service Canada-based central lens finishing lab with anti-reflective coating capability, further strengthening the Group's ability to deliver the highest level of service to the Canadian market.
The closing of the transaction, which is subject to customary closing conditions, is expected to take place in June 2006.
Luxottica Group SpA is a global leader in eyewear, with nearly 5,500 optical and sun retail stores in North America, Asia-Pacific, China and Europe and a strong brand portfolio that includes Ray-Ban, the best selling sun and prescription eyewear brand in the world, as well as, among others, license brands Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Prada, Versace and Polo Ralph Lauren, from January 2007, and key house brands Vogue, Persol, Arnette and REVO.
In addition to a global wholesale network that touches 130 countries, the Group manages leading retail brands such as LensCrafters and Pearle Vision in North America, OPSM and Laubman & Pank in Asia-Pacific, and Sunglass Hut globally. Its products are designed and manufactured in six Italy-based high-quality manufacturing plants and in the only two China-based plants wholly-owned by a premium eyewear manufacturer.
For fiscal year 2005, Luxottica Group posted consolidated net sales of €4.4 billion.
marketing@alchempro.com
