The world’s largest manufacturer and distributor of eyewear. The Luxottica Group’s wholesale segment produces frames, sunglasses and sports eyewear for designer brands, such as Bulgari and Chanel. The company’s retail segment operates through the group’s licensed brands, such as Sears Optical and Target Optical, as well as its holdings, LensCrafters, Sunglass Hut, OPSM, Laubman & Pank and Oakley. Headquartered in Milan, the Italian company was founded by Leonardo del Vecchio in 1961.
Leonardo del Vecchio established Luxottica (meaning “light” and “optics” in Italian) as a contract manufacturer of components and accessories for the optical industry. In 1971, the company transitioned to a full-service eyewear manufacturer. It entered into wholesale distribution in 1974 with the acquisition of eyewear wholesaler Scarrone S.p.A. The company expanded internationally throughout the 80s and 90s with its opening of a subsidiary in Germany and the acquisition of the U.S. distribution giant Avant-Garde Optics, Inc. Luxottica began its fashion eyewear business by signing a licensing agreement with Giorgio Armani in 1988. It was listed on the New York Stock Exchange in 1990. The company continued to obtain high-profile acquisitions, such as Persol, Vogue Eyewear, Ray-Ban and LensCrafters, as well as licensing agreements with Brooks Brothers, Bulgari and Chanel.
In 2017, Luxottica merged with French eyewear manufacturer, Essilor, rebranding the company as EssilorLuxottica and establishing the world’s largest player in the eyewear market.
- Family name: Del Vecchio family
- Sector: Consumer Products & Retail
- Founded: 1961
- Founder: Leonardo Del Vecchio
- Country: Italy
- Company headquarters: Milan, Italy
- Revenue: 9.6
- Employees: 78,933
- Website: luxottica.com
Connections
Also on Tharawat
