News & Reviews

Goliath in glasses: Mega-merger may jack up the cost of eyewear even higher

A proposed merger between prescription lens-maker Essilor and frame maker Luxottica might sound like a dream for anybody with four eyes, but it could be more like a nightmare for the wallets of U.S. consumers.RELATED: 10 best places to get a deal on eyeglassesMaybe you’re not familiar with the names Essilor and Luxottica. They’re European companies from France and Italy, respectively, but they have a heavy footprint all over the U.S. eyeglasses market.Luxottica owns Pearle Vision and...

Luxottica CEO exits eyewear giant ahead of Essilor merger

MILAN (Reuters) - Italy’s Luxottica (LUX.MI) has parted ways with its fourth chief executive in three years as Chairman Leonardo Del Vecchio prepares the eyewear group he founded for a planned merger with France’s Essilor (ESSI.PA). Luxottica, the biggest maker of spectacles, agreed in January to merge with the top lens manufacturer to create a 46 billion euro ($54 billion) group with a global shop network and brands from Ray Ban to Giorgio Armani and Burberry. Luxottica said on Friday...

Tiffany & Co. Strengthens Eyewear Offering with Renewed Luxottica License Agreement

NEW YORK & MILAN--(BUSINESS WIRE)--LUX</a>) and Tiffany &amp; Co. (TIF) today announced the renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Tiffany &amp; Co brand. The agreement marks a new era for eyewear at Tiffany, with creative direction overseen by Tiffany &amp; Co.’s chief artistic officer, Reed Krakoff. The agreement is scheduled to expire on December 31, 2027,...