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.
EXCLUSIVE: @tomford is opening its first-ever beauty store. The boutique, which opens November 20 in London’s Covent Gardens, was designed with the over-the-top glam Ford is known for. Read the full story on WWD.com, link in bio. #wwdbeauty #wwdnews (📷: Simon Wagner) #TomFordBeauty
New York-based DJ @harleyvnewton threw a party to celebrate the holiday collection of her dress and pajama line @hvn at the Ladurée Beverly Hills. It Girls @katebosworth, @rashidajones and more joined in on the fun, which included cocktails, croque monsieur sandwiches and a photo booth. #wwdfashion (📷: Owen Kolasinski/BFA.com)
For the holidays, @Burberry partnered with 20-year-old artist @blondeymccoy on a series of three outdoor murals in downtown Manhattan. The murals are McCoy’s interpretation of a Christmas eve party, the idea of charity and the spirit of family. His third mural, pictured here, is the most personal. The image depicts McCoy’s grandparents and father in London’s Trafalgar Square in the Seventies. “My work often features lots of sentimental objects.” #wwdeye
For spring 2018, designers applied bold colors and cartoonish motifs on everything from sneakers and belts to key chains. See all the top men’s accessories trends on WWD.com. #wwdtrends (📷: George Chinsee; Prop Styling by @rnasti; Market Editor: @luiscampuzano)
The @dior-sponsored @guggenheim international gala pre-party has a history of drawing cool-girl musical acts to serenade the crowd –– and last night was no exception. @haimtheband performed songs both new and old, and lured a star-studded audience with the likes of Rebecca Hall, Kate Mara, Mamoudou Athie and more. #wwdeye (📷: @lexieblacklock)
In a partnership between the @metopera and the @englishnationalopera, “Marnie” was born. The opera, with costumes sponsored by @mrporterlive, is an adaptation of the 1961 thriller by Winston Graham. Arianne Phillips, who created the costumes, is no rookie: She’s styled Madonna for her tours and created costumes for a myriad of films in the past. Read WWD’s interview with Phillips, where she talks about her inspiration for the opera’s costumes on WWD.com #wwdfashion
@barneysnyc took a different approach to their holiday windows this year. Instead of Christmas decor, Barneys tapped @thehaasbrothers to tell a story of positivity, gratitude and inclusivity via heartwarming silliness and humor. “It’s about kids and it’s about coming together and being family and loving each other,” said Simon Haas. #wwdfashion (📷: @joshuascottphoto)
Beauty influencer @kandeejohnson makes her foray into hair care with a collaboration with @ogx_beauty — making it the first time that OGX has teamed up for a product creation. The collab includes shampoos and conditioners in three scents. At 39 and a mom, Johnson is a different profile than the emerging social media stars, but is considered one of the pioneers of the digital beauty influencer world. Read WWD’s interview with her on wwd.com, including the strangest beauty product she’s ever tried #wwdbeauty