In focus: EssilorLuxottica’s grand vision for aggressive expansion in retail

Optical behemoth EssilorLuxottica has reached an agreement to acquire a 76.72% stake in global eye care retailer GrandVision following talks last month. (News, 26.7.19)

It has received an ‘irrevocable commitment’ from HAL Holdings, controlled by the Dutch Van der Vorm family, to sell its shares to the Franco-Italian company.

Through the acquisition, EssilorLuxottica will expand its retail platform by adding more than 7,200 stores globally, over 37,000 employees and €3.7bn in annual revenue.

The company will hope that its acquisition of GrandVision, who currently have 150 million customers, will provide it with a stronger retail outlet in which to sell its products.