Italian eyewear maker Luxottica continues consolidation with Alain Mikli buy

Ray-Ban sunglasses

Italian luxury and sports eyewear specialist Luxottica Group SpA (BIT:LUX) unveiled an exclusivity agreement for the purchase of French luxury and contemporary eyewear producer Alain Mikli International SA from Alain Miklitarian and London-based investor NEO Capital.

The buyer did not disclose the financial terms of the deal, which is still subject to negotiations and completion of consultation with Alain Mikli’s employee representatives.

The proposed acquisition would substantially enhance Luxottica’s luxury brand portfolio, with the addition of Alain Mikli’s uniquely detailed design and its unconventional use of colours, the buyer said.

According to Luxottica’s CEO Andrea Guerra, the contemplated deal serves the group’s growth plans, further boosting its prescription soul, where it had invested strongly in the past years. The combination would also enable Alain Mikli to widen its selected global foothold by using Luxottica’s business model and extensive know-how of luxury eyewear distribution, Guerra added in his comment.

In turn, Alain Mikli noted that under the ownership of Luxottica, his firm will move to the next level in distribution, quality and service. Paris-based Alain Mikli has been active since 1978, with some EUR60m (USD77.4m) of revenues made last year.

Luxottica has manufacturing plants in Italy, the US, Brazil and China. Its portfolio includes house brands Ray-Ban, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO and licensed brands such as Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan and others.

For more information on Luxottica’s dominant position in the eyewear market, click here.

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