MILAN — Luxottica on Friday agreed to buy 100 percent of Alain Mikli International.
Terms of the deal were not disclosed, but Stefano Corneliani, senior analyst at Intermonte SMI, pegged the price tag at between 120 and 130 million euros, or $155 million to $168 million at current exchange.
The Italian eyewear giant reached an agreement with Alain Miklitarian and London-based private equity NEO Capital, which acquired 47 percent of Alain Mikli International in April 2009.
The deal had little impact on Luxottica’s shares, which closed up 0.4 percent to 29.95 euros, or $38.47, on Friday.
“This proposed operation perfectly reflects our long-term growth strategy,” said Luxottica chief executive officer Andrea Guerra. “With its innovative design, Alain Mikli would enrich our luxury eyewear segment and further strengthens our prescription side, where we have deeply invested in the past years, to further contribute to the group’s resilient growth. Moreover, Luxottica’s vertically integrated business model and deep know-how of luxury eyewear distribution would allow Alain Mikli to increase its selected global presence.”
Luxottica currently produces and distributes eyewear collections for brands including Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Tiffany and Versace. The company, which in 2011 posted net sales of more than 6.2 billion euros, or $8.7 billion at average exchange rate, also owns a number of brands, such as Ray-Ban, Oakley, Vogue, Persol, Oliver Peoples, Arnette and Revo.
“I’m very excited about this new adventure,” said Mikli, who founded his company in 1978 and opened his first store in Paris in the Eighties, followed by one in New York in 1992. “I have worked for 35 years pursuing the same idea and the same dream: to please our clients. Working with Luxottica will represent a great new opportunity to push the Alain Mikli brand to the next level in distribution, quality and service. Now I can share my passion with many customers around the world.”
Alain Mikli, which recently opened four stores in Asia and two in the U.S., acquired French sunglasses manufacturer Vuarnet in December 2009. The company also manufactures Philippe Starck’s Starck Eyes eyewear collection and an exclusive line designed by Jean Paul Gaultier.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews