By  on August 28, 2018

MILAN — In eyewear, it’s no longer a matter of big is good. Giant is better. Luxottica and Essilor, the leading maker of lenses worldwide, have agreed to a 46 billion euro merger to form an eyewear behemoth with annual sales of more than 15 billion euros, which is expected to be approved in the third quarter of the year. This is reshaping Italy’s eyewear landscape — as well as the global one — and Italian competitors are working on building a sustainable business.

Italy’s second-largest eyewear manufacturer, Safilo Group, has been grappling with Kering’s decision in 2014 to produce eyewear internally for most of the brands in its stable, and Gucci, in particular, a longtime Safilo licensee.

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