EssilorLuxottica closed on its acquisition of GrandVision in accordance with the terms and conditions of the agreements signed on July 30, 2019.
“After assessing all our options, we have made the decision to proceed with the completion of the deal without further delay. The strategic rationale of the transaction remains strong and unchanged, and after two years of efforts and relentless work, we are now ready to turn a page and start a new chapter of EssilorLuxottica’s history, with GrandVision. In doing so, we will use the learnings and experience gathered over the past years to ensure GrandVision and its 37,000 talented employees are integrated successfully. As the industry returns to growth following the pandemic, we believe this is the perfect time to expand our retail network, so that we can engage more effectively with consumers and thus raise the visibility and quality of the entire industry. This will benefit all stakeholders, including our customers to whom we remain fully committed”, said Francesco Milleri and Paul du Saillant, respectively CEO and
Deputy CEO of EssilorLuxottica.
EssilorLuxottica is a major manufacturer of ophthalmic lenses, frames and sunglasses. Its eyewear brands include Ray-Ban
and Oakley and designer labels including Armani Exchange, Burberry, Bulgari, Brooks Brothers, Chanel, Dolce & Gabbana, Michael Kors, Prada, Polo, Valentino, Tory Burch, and Versace. Sunglass Hut and LensCrafters are also part of the EssilorLuxottica family.
GrandVision operates more than 7,000 stores under retail brands including Brilleland and For Eyes.
Photo courtesy GrandVision