EssilorLuxottica
EssilorLuxottica SA is an Italian-French vertically integrated multinational corporation based in Paris and founded on 1 October 2018 from the merger of the Italian Luxottica with the French Essilor. The eyewear-focused group designs, produces and markets ophthalmic lenses, optical equipment, prescription glasses and sunglasses.
| Company type | Société Anonyme |
|---|---|
Traded as | Euronext Paris: EL
CAC 40 component Euro Stoxx 50 component |
| ISIN | FR0000121667 |
| Industry | Eyewear, Eye care |
| Predecessor | Essilor Luxottica |
| Founded | 1 October 2018 |
| Headquarters | Paris |
Key people | Francesco Milleri (Chairman and Chief Executive Officer) |
| Products | Ophthalmic lenses, optical equipment, prescription glasses and sunglasses |
| Brands | Ray-Ban Oakley Persol Varilux Crizal Transitions Optical LensCrafters Sunglass Hut |
| Revenue | €24.494 billion (2022) |
| €3.230 billion (2022) | |
Net income | €2.152 billion (2022) |
| Total assets | €60.561 billion (2022) |
| Total equity | €38.147 billion (2022) |
Number of employees | 149,000 (2020) |
| Subsidiaries | Essilor Luxottica |
| Website | www |
EssilorLuxottica's merger agreement was that Essilor would acquire Luxottica, but Luxottica's leadership would gain seats in leadership and on the board of directors, including Luxottica founder Leonardo Del Vecchio becoming executive chairman. After a public feud between the previous companies' leadership, Del Vecchio was able to win the backing of shareholders and ousted Essilor CEO Hubert Sagnières from the company, appointing his choice of Francesco Milleri as the new CEO.
Upon the merger, the company became the largest player in the eyewear industry, with Essilor contributing numerous proprietary lens technologies as well as the brands Foster Grant and Costa Del Mar. For its part, Luxottica gave the company ownership over numerous eyewear brands including Ray-Ban, Oakley, Persol, Oliver Peoples, and Vogue Eyewear; eyewear retailers LensCrafters, Pearle Vision, and Sunglass Hut, eyewear insurance company EyeMed, and exclusive eyewear licensing deals to numerous fashion houses including Versace, Michael Kors, Prada, Coach New York, Ralph Lauren, Tory Burch, Armani, and Dolce & Gabbana. The company is listed on the Euronext Paris stock exchange under the trading symbol EL and is part of the CAC 40 share index which includes the 40 largest capitalized companies traded on the Paris Stock Exchange and the Euro Stoxx 50 which includes the 50 largest companies in the Eurozone. According to Statista, in 2022, the company made €24.49 billion Euros in revenue.