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.
Breaking: @cushnieetochs’ co-founders @carlycushnie and @ochsmichelle are parting ways. After a 10-year run, Ochs is leaving the brand. Get the full story on WWD.com – link in bio. #wwdnews #wwdfashion
@maybelline’s Kanako Takase had snow bunnies in mind when creating the beauty look for @philipppleininternational. Playing off of the bedazzled snowboards in the collection, Takase mixed two highlighters together for a luminous sheen. #wwdbeauty #nyfw (📷: @jilliansollazzo)
“There’s a huge gap between the old way of doing things and today. It takes the youth to help evolve that. You have to count on the kids today to help lead you into the future. A lot of these retailers are stuck in the past. Communication is the biggest thing,” said @ronniefieg of @kith on the youth’s role in retail. On Monday night, Jeff Staple moderated a keynote session with Fieg and @syresmith at Assembly - a series of workshops, talks and keynotes addressing topics or issues in the apparel industry. Head to WWD.com to read more advice from Fieg and what Smith thinks of his dad @willsmith’s Instagram account and sustainability (📷: @weston.wells)
@joansmalls closed the @michaelkors fall 2018 show in black sequined pants and a varsity T printed with 19 on the front and 81 on the back. 1981 – the year Kors went into business. #wwdfashion #nfyw (📷: @giovanni_giannoni_photo)
“You think your life is going to be a certain way, and nothing you thought would happen ends up happening. Never in my wildest dreams did I think I’d be designing clothes and working with Mickey Drexler, and building something I’m deeply proud of,” said Jenna Lyons. Nine months after leaving @jcrew, Lyons is exploring the meaning of happiness. Read the interview, where Lyons talks about reinvention and more on WWD.com – link in bio. #wwdfashion (📷: Farrell) #jennalyons #jcrew