The story of Luxottica

Luxottica. Italian eyewear maker and retailer founded in 1961; part of EssilorLuxottica since 2018.

1961

Leonardo Del Vecchio founded Luxottica.

1995

Luxottica acquired LensCrafters.

1999

28 Jun 1999: Luxottica acquired Ray-Ban. $640M.

Since 28 Jun 1999: Ray-Ban, part of Luxottica.

2001

Luxottica acquired Sunglass Hut.

The trade press at the time called the price “rumored” at $653 million in cash plus assumed debts.

2007

Luxottica acquired Oakley. $2.1B.

2012

Luxottica owns a stake in EyeMed.

As CBS reported in 2012 and as the FTC described Luxottica in 2018.

2018

Luxottica acquired Barberini.

The Italian authority authorised the purchase on 19 November 2018 on conditions: contracts like the one with Maui Jim open to Barberini’s customers, no minimum-purchase clauses, access to new technology, and a monitoring trustee.

Barberini, part of Luxottica.

Authorised by the Italian competition authority on 19 November 2018, on conditions. (The Italian quote says: to authorise the notified concentration on condition that the parties fully carry out the following measures.)

Luxottica, part of EssilorLuxottica.

22 Jul 2021

Luxottica, sanctioned by Autorité de la concurrence. Limiting opticians’ freedom to set prices (2005 to 2014); fine of about €125 million.

Luxottica was fined €125,174,000 in all, almost all for the pricing; LVMH €500,000 and Chanel €130,000 for banning online sales. The authority said retaliation included delaying deliveries, withdrawing approval and blocking accounts. In English, the company’s 22 July 2021 statement called the fine highly disproportionate and without foundation and said it would appeal.

12 Dec 2024

Luxottica, sanctioned by Paris Court of Appeal. Appeal rejected; the 2021 decision stands.

EssilorLuxottica filed an appeal to the Court of Cassation on 13 January 2025 and says it is confident the decision is without merit. In English, the French recital says the authority put Luxottica’s weight at 45% of sunglasses by value in 2011 and 21% of prescription frames, and judged the damage to the economy certain but moderate.

Luxottica, involved in Italian review of Luxottica’s purchase of Barberini (2018), Review of the Essilor and Luxottica merger (2018), The French eyewear decision (21-D-20, 2021), Luxottica founded in Agordo (1961), Oakley and Sunglass Hut dispute (2001), Luxottica buys Bausch & Lomb’s sunglass business (1999) and 60 Minutes “Sticker Shock” (2012).

Luxottica, located in Agordo.

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