ESSILORLUXOTTICA SETS SIGHTS ON RETAIL DOMINANCE WITH 8 BILLION DOLLARS GRANDVISION DEAL

MATTHIAS BLAMONT | July 31, 2019

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EssilorLuxottica is buying Dutch opticians group GrandVision for up to 7.2 billion euros in cash to take control of thousands of stores where it sells spectacles and lenses. The deal marks a new milestone for EssilorLuxottica, which was formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, but which has been hit by disputes over who should run the group. GrandVision, whose chains include Vision Express in Britain and For Eyes in the United States, would give EssilorLuxottica control of more than 7,000 outlets across the world where it already sells brands including Varilux lenses and Ray-Ban sunglasses.

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