Rome – The king of eyewear (Luxottica), and the pioneers of the lenses (Essilor) give birth to a giant 50 billion euros. How the three financial laws in italy, more than triple the crac Parmalat, the Gdp of Bulgaria or those of Bosnia, the Congo, and Brunei put together. It is yet another stage in the life of a man-made, starting from a garage. Long before they went out of fashion in the garage, when Steve Jobs and Bill Gates were in the first grade.
Why is Leonardo Del Vecchio, at the beginning of the ’60s, he took advantage of the opportunity offered by the mountain Community of Agordo, that he had offered the land free of charge to factories were transferred there.
he told himself in this video 2011, in occasion of the 50 years of Luxottica.
Today the market had the news of the”Integration of two global players and complementary in the eyewear sector to respond to growing needs in eye care and the consumer demand for high-end brands”.
A giant by 140,000 employees
“The new group would be in a position to propose a complete offer with combined revenues of over 15 billion euro, with about 140,000 employees and sales in more than 150 Countries, the new reality “would represent a growth platform positioned to seize opportunities in the future”.
In detail, Delfin is committed “irrevocably” to make their company’s shares to Essilor on the basis of an exchange ratio of 0,461 actions Essilor for 1 Luxottica. Together, Essilor and Luxottica will be in a better position to offer a response to the needs related to the view of 7.2 billion people, 2.5 billion of whom still do not have access to a visual correction. The closing of the transaction is planned for the second half of 2017 and would be followed by the compulsory acquisition of all of the remaining shares of Luxottica in the circulation.
Of the Old, it makes a dream
“With this transaction, you realized my dream to give life to a sample in the field of optics, fully integrated and excellent in every part. We knew from the time that this was the right solution, but only now have developed conditions that have made it possible,” said Leonardo Del Vecchio, president of Delfin and executive chairman of Luxottica Group, commented on the agreement with Essilor. “The marriage between two leading companies in their respective sectors – it has added – will bring major benefits to the market, employees, and primarily for all our consumers. Finally, after fifty years of waiting, two parts, of course, complementary, frames and lenses, will be designed, implemented, and distributed under the same roof.”
“our project” – said Hubert Sagnieres, chairman and ceo of Essilor – is based on a motivation is simple: to respond better to the needs of a huge population of the world relating to the correction and to the protection of the view, merging two large companies, one dedicated to the lenses and the frames. With extraordinary success, Luxottica has continued Sagnieres – created brands, supported by a supply chain and a distribution network at the leading edge. Essilor port 168 years of innovation and industrial excellence in the design, manufacture and distribution of ophthalmic lenses and sunglasses. By combining their forces, these two international players can now accelerate their global expansion, to the benefit of customers, employees and shareholders, and of the whole sector”.
No comments:
Post a Comment