January 16, 2017, will go down in the annals of optical history as its Brexit, or even Trump moment. The €46bn merger between Essilor and Delfin, the group controlling Luxottica, will change the landscape of the global optics sector forever.
The merger, which will see EssilorLuxottica control more than 25% of the global spectacle and contact lens market. According to 2015 data from Euromonitor, single entity companies, Johnson & Johnson, Safilo and Hoya control just 3.9%, 3.7% and 3.2% of the market, respectively. The remaining 62% comprises all other businesses. Together, Essilor and Luxottica have annual revenue of €15bn from their operations in 150 countries with 140,000 staff. They have also been clear market leaders since 2010 with eyewear sector sales growth more than double that of the likes of Zeiss, Safilo, Novartis and Hoya.
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