Luxottica news and archive

Oakley brings back the rebel spirit: The return of the MUZM Straight Jacket 99

Over two decades ago, the Straight Jacket defined an era of Oakley: bold, defiant, and made for those who refused to follow. It shattered the boundaries of sport, infiltrating culture through film, TV, and the streets, while being worn by the legends who set the blueprint. Now, as Oakley celebrates 50 years of defying convention, the...

People

Luxottica founder Leonardo Del Vecchio dies at 87

Leondardo Del Vecchio, the founder of eyewear emporium Luxottica, died in Milan at the age of 87. Del Vecchio sat at the helm of the largest distribution group in the eyewear world, and had a personal wealth of 25.8 billion dollars, making him the second wealthiest person in Italy. Awarded with Italy’s Knight of the Order of Merit for Labor, he...

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Business

Luxottica and Valentino terminate license agreement

Italian eyewear giant Luxottica Group and Valentino have confirmed that its five-year licensing agreement will end on June 30, 2022. In a short statement, the two companies said that Luxottica, which started working with Valentino in 2017, will no longer be designing, producing or distributing prescription frames and sunglasses worldwide under...

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Fashion

Brunello Cucinelli developing eyewear with Oliver Peoples

Luxury Italian brand Brunello Cucinelli is partnering with Oliver Peoples, part of the Luxottica group, to launch its first eyewear capsule collection. The collection will be made in Italy with five different styles inspired by the culture and beauty of Solomeo, where Brunello Cucinelli is based. With the shapes and colours, the result of “...

FashionPress Release

Luxottica Alum and Finance Pro Team Up to Launch Inclusive Sunglasses Brand: Yunizon Eyewear

New York, NY–May X, 2020–Yunizon Eyewear, the pioneers behind Global Fit Technology, is proud to launch their core line of innovative, gender neutralsunglasses. Co-Founded by eyewear industry vet Kimberly Van Schoyck-Riojas and corporate finance expert Rebecca Lay,the brand is positioned to become atop global, all-inclusive brand. The first to...

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Report

Versace and Luxottica renew eyewear license

Versace and Luxottica Group have jointly announced the early renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Versace brand. The company said in a statement that ten-year renewal is effective starting April 1, 2020 and is scheduled to expire on...

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Business

Luxottica H1 results flat before merger

Luxottica, the world’s largest eyewear manufacturer, reported 4.55 billion euros in revenue in the first half of 2018, with a marginal increase of 0.3 percent. Despite the flat results the company said it is pleased with the group’s performance: "The growth in the markets where we completed the new commercial strategy, including North America...

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Report

Luxottica acquires lens manufacturer Barberini S.p.A

Luxottica Group has announced the acquisition of the Italian manufacturer of optical glass sun lenses, Barberini S.p.A. The transaction is valued at approximately 140 million euro (163 million US dollars). ”With the acquisition of Barberini we add another gem to our brands, a name that is well known throughout the industry and synonymous with...

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Retail

Sunglass Hut to sell eyewear at outdoor stores Bass Pro and Cabela’s

Sunglass Hut will be the exclusive seller of sunglasses at the outdoor stores Bass Pro and Cabela’s. Bass Pro Outdoor World, owner of the two outdoor brands, has announced a partnership with the Luxottica Group, which owns Sunglass Hut and also designs, manufactures and distributes eyewear for brands like Prada, Chanel and Michael Kors. Sunglass...

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Management

Luxottica's Q1 sales hit by bad weather in Europe

Luxottica closed the first quarter of 2018 with sales down by 0.8 percent at constant exchange rates and 10.7 percent at current exchange to 2,136 million euros (2,591 million dollars), which the company said were due to the temporary slowdown in Europe caused by a delayed sun season and the restructuring of the wholesale business in China. "The...

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Fashion

Luxottica merges with lens maker to become world's largest eyewear company

Luxottica, the Italian eyewear giant that makes glasses for brands including Chanel, Burberry and Armani, is merging with French company Essilor, the world's leading lens maker, creating a group worth 50 billion euros with 140,000 employees. The merging company will be listed on the Paris stock exchange, meaning Luxottica will be delisted from...

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Management

Luxottica expects strong adjusted net profit growth in FY17

In a preliminary results statement, Luxottica Group said that the company closed the fourth quarter of 2017 with sales up 4.3 percent at constant exchange down 2.3 percent at current exchange rates as a result of the strong appreciation of the euro against the group’s other primary currencies. The company added that the fourth quarter results...