By  on July 6, 2017
Luxottica's Rayban

MILAN — Luxottica Group said Thursday it acquired 100 percent of Óticas Carol, an eyewear franchising retail chain that operates about 990 stores across Brazil.The deal is valued at 110 million euros. Founded in 1997, Óticas Carol generates sales of 200 million euros.Luxottica, which closed 2016 with revenues exceeding 9 billion euros, already operates Sunglass Hut and Oakley stores in Brazil, where the company also features a factory at Campinas in the state of São Paolo.The eyewear giant said in May that, in light of its pending megamerger with Essilor, it would voluntarily delist its American Depositary shares from the New York Stock Exchange, which will both save costs and end the company’s obligation to file its results with the Securities and Exchange Commission. Shares of the firm will continue to trade in Milan.The company’s January deal with Essilor will create a $16 billion eyewear giant called EssilorLuxottica that is seen as resetting the competitive landscape in the sector.Along with operating house brands Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples, Alain Mikli and Arnette, Luxottica produces and distributes the eyewear collections of a range of fashion labels. These include Giorgio Armani, Bulgari, Burberry, Chanel, Coach, Dolce & Gabbana, DKNY, Polo Ralph Lauren, Prada, Michael Kors, Starck Eyes, Tiffany and Versace.

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