Luxottica Group has acquired a 67 percent majority stake in Fukui Megane Co. Ltd., an eyewear manufacturer based in Japan’s Fukui district, focused on the production of luxury titanium and gold frames. The value of the deal has not been disclosed.
“The acquisition represents a first step in the entry of our group in the world of Japanese production. We will continue to invest in re-creating a productive center of excellence in Sabae, in line with the Luxottica model,” said Luxottica Group executive chairman Leonardo Del Vecchio. “For the first time in the history of eyewear, we will have two great artisan schools under the same roof, Italian and Japanese.”
Established in 1969, Fukui Megane employees about 100 designers and artisans specialized in titanium engraving.
Luxottica produces eyewear under license for brands including Giorgio Armani, Bulgari, Burberry, Chanel, Coach, Prada and Versace, and owns a number of labels, such as Ray-Ban, Oakley, Oliver Peoples and Persol. It has also joined with Essilor, the leading maker of lenses worldwide, in a 46 billion euro, or $48.7 billion, merger that will create an eyewear powerhouse with annual sales of more than 15 billion euros.
The merger is expected to be finalized in the first part of this year.