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Luxottica

January 16, 2017

Family-owned eyewear group Luxottica and French rival Essilor have agreed to a €46 billion ($49 billion) merger that will create a leader in the eyewear industry with revenues of more than €15 billion.

Family-owned eyewear group Luxottica and French rival Essilor have agreed to a €46 billion ($49 billion) merger that will create a leader in the eyewear industry with revenues of more than €15 billion.

The merger, one of the largest tie ups in European history, combines Luxottica, known for brands such as Ray Ban and Persol, and Essilor, a French company leading the charge in ophthalmic lenses.

October 24, 2014

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

The Italian company said Adil Mehboob-Khan, a former Procter & Gamble executive, would join the firm in January and become part of a new management structure comprised of three top executives.

September 3, 2014

A luxury fashion expert says Luxottica’s founder most likely had his business’s future at heart when ousting the sunglass empire’s non-family chief executive last week, despite media speculation that the exit was personal.   

A luxury fashion expert says Luxottica’s founder most likely had his business’s future at heart when ousting the sunglass empire’s non-family chief executive last week, despite media speculation that the exit was personal.

The Italian eyewear firm, which has annual revenues of €7.3 billion and includes brands such as Oakley and Ray-Ban, was brought to prominence during Andrew Guerra’s decade-long tenure. 

December 1, 2011

Luxottica, the world's largest eyewear group which is 70% controlled by the Del Vecchio family, said it has signed an agreement to acquire Grupo Tecnol, as the Italian family business continues to expand in Latin America.

Luxottica, the world's largest eyewear group which is 70% controlled by the Del Vecchio family, said it has signed an agreement to acquire Grupo Tecnol, as the Italian family business continues to expand in Latin America.

Luxottica, which owns sunglass brands including Ray-Ban and Oakley and makes frames for Chanel, Prada, Burberry and Tiffany’s, said the value of the deal is about €110 million.

July 26, 2011

Luxottica, the world’s biggest eyewear group which is majority owned by the Del Vecchio family, announced record second-quarter results, buoyed by strong global demand for luxury brands.

Luxottica, the world’s biggest eyewear group which is majority owned by the Del Vecchio family, announced record second-quarter results, buoyed by strong global demand for luxury brands.

The Milan-based company said on 25 July that its sales for the second quarter rose by almost 2.5% to €1.63 billion, up from €1.59 billion for the same period in 2010.

February 23, 2011

Founder and chairman of family-controlled eyewear group Luxottica, Leonardo Del Vecchio, has resigned from the board of insurance firm Assicurazioni Generali due to concerns over the company’s governance, say various reports.

Founder and chairman of family-controlled eyewear group Luxottica, Leonardo Del Vecchio, has resigned from the board of insurance firm Assicurazioni Generali due to concerns over the company’s governance, say various reports.

October 26, 2010

Luxottica, the world's biggest eyewear group which is 70% owned by the Del Vecchio family, recorded a 34.5% year-on-year rise in net profits to €101.9 million in the third quarter.

Luxottica, the world's biggest eyewear group which is 70% owned by the Del Vecchio family, recorded a 34.5% year-on-year rise in net profits to €101.9 million in the third quarter.
 
The rise is on top of the 30% rise in net profits in the second quarter of 2010.
 
In a statement the Milan-based company said it is targeting net profit of €400 million in 2010, 27% higher than in 2009.
 
Net sales rose 19.7% in the third quarter to €1.46 billion.
 

July 27, 2010

Leonardo Del Vecchio might be expected to take that extra special summer holiday after his company announced better-than-expected second quarter results.

Leonardo Del Vecchio might be expected to take that extra special summer holiday after his company announced better-than-expected second quarter results.

Luxottica, the world's biggest eyewear group and 70% owned by Del Vecchio (pictured), recorded a 30% year-on-year rise in net profits in the second quarter of the year to €150 million. Analysts were expecting profits of  €145 million.
 

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