Connect with us

Press Releases

Essilor International Expands Footprint in Europe, Latin America

Local partnerships are a key component.

mm

Published

on

(PRESS RELEASE) CHARENTON-LE-PONT, FRANCE – Essilor International, an EssilorLuxottica subsidiary, is pursuing its acquisition and partnership strategy with the completion of four transactions worldwide, representing combined full-year revenue of around €48 million ($54 million). Local partnerships are a key component of Essilor’s mission of “improving lives by improving sight.”

Essilor further strengthens its development strategy in Germany, the fifth-largest ophthalmic optics industry in the world. To speed up the development of a drive-to-store model that gives consumers access to the latest digital technologies combined with the expertise of independent opticians, Essilor signed an agreement to acquire 100 percent of Brille GmbH. The latter is one of the leading online retailers of optical products in Germany with annual revenue of close to €25 million. The acquisition of Brille is subject to approval of the German competition authority (Bundeskartellamt).

Video: 11 ODs Share Their Stories of Being Black in America
Headlines

Video: 11 ODs Share Their Stories of Being Black in America

Video: Optometrist Describes the Moment 50 Looters Stormed Her Business
Headlines

Video: Optometrist Describes the Moment 50 Looters Stormed Her Business

Video: Applications Open for 2nd Round of Paycheck Protection Program
Headlines

Video: Applications Open for 2nd Round of Paycheck Protection Program

The Company reinforces its presence in Greece, where Essilor partner Shamir acquired Union Optic, a prescription laboratory that also distributes optical instruments. Union Optic generates annual sales of about €9 million and operates four branches across Greece and Cyprus. Union Optics acquisition by Shamir will strengthen the footprint of the Essilor Group in the territory, where Bairamoglou and Unilens are long standing distributors of Essilor lens and Nikon lens, respectively.

Essilor also expands its coverage of Latin America to ensure broader access to its innovations in markets there. Essilor acquired a majority stake in Indulentes, one of the leading prescription laboratories in Ecuador with annual revenue of USD9 million. Indulentes will leverage Essilor’s technological know-how to accelerate its expansion in a local market that holds huge potential for progressive and antireflective lenses. This acquisition represents Essilor’s first move into Ecuador.

In Argentina, Essilor acquired a majority stake in Metalizado Optico Argentino S.A. (MOA), one of the country’s leading prescription laboratories. Buenos Aires-based MOA generates annual revenue of about $7 million. This laboratory adds to Essilor’s industrial assets in a country that is home to 45 million people and one of the Latin America’s largest ophthalmic optics market.

Advertisement

Advertisement

SPONSORED VIDEO

SPONSORED BY SHAMIR

Shamir Glacier PLUS™UV

Utilizing the most advanced technologies, Shamir Glacier PLUS™ UV ensures you receive the most enhanced performance from your lenses.

Promoted Headlines

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Instagram

Most Popular