Luxottica has acquired 67% of the Japanese company Fukui Megane, specialized in the production of highly prized titanium and solid gold eyewear. The economic details of the transaction have not been provided, but the commercial value is very high. The company founded by Leonardo Del Vecchio thus laying the foundations for entering the dynamic and rapidly developing Japanese luxury market.
Fukui Megane represents the excellence and tradition of Japanese eyewear, a sector known throughout the world for its attention to design and high craftsmanship. The transaction is subject to the usual closing conditions, especially in these weeks, after the definitive go-ahead from the authorities antitrust US and European the merger between Luxottica and Essilor.
“The acquisition of Fukui Megane represents a first step for our group's entry into the world of Japanese manufacturing. We intend to continue investing to recreate in Sabae a production center of excellence in line with the Luxottica model”, commented Del Vecchio.
All that is needed to complete the deal is the go-ahead from China, where the competitive positions of the two groups are more limited than those of the US and the EU, therefore less at risk of raising antitrust issues.
The stock in Piazza Affari does not react positively at the opening, -0,85%.
