EssilorLuxottica

The French-Italian eyewear giant

EssilorLuxottica is a global leader in the design, manufacture and distribution of eyewear. It licenses many leading brands to develop premium eyewear including Ray-Ban, Oakley, Costa, Vogue Eyewear, Persol and Oliver People. Its advanced lens technologies include Varilux, Crizal, Eyezen, Stellest and Transitions. It offers superior shopping and patient experiences with a network of 18,000 stores including world-class retail brands like Sunglass Hut, LensCrafters, Salmoiraghi & Viganò and GrandVision.

EssilorLuxottica is a multinational eyewear company that was formed through the merger of two major players in the eyewear industry: Essilor and Luxottica.

Essilor, founded in 1972, was a French company specializing in the manufacturing of ophthalmic lenses. It became a leading player in the global eyewear industry, focusing on providing innovative lens solutions to improve and protect eyesight.

Luxottica, founded in 1961, was an Italian company created by Leonardo Del Vecchio. Luxottica initially started as a small eyewear component manufacturer and later expanded into the design, manufacturing, and distribution of eyewear frames. Luxottica became well-known for owning popular eyewear brands like Ray-Ban, Oakley, and Persol, and for its retail chains such as LensCrafters and Sunglass Hut.

In 2017, Essilor and Luxottica announced their merger, creating EssilorLuxottica. The merger aimed to combine Essilor’s expertise in lens manufacturing with Luxottica’s strength in eyewear frames and retail. However, the merger faced some challenges, including corporate governance issues and power struggles between key stakeholders.

Despite these challenges, EssilorLuxottica continued to be a major player in the eyewear industry, controlling a significant portion of the market. The company’s focus remained on providing a comprehensive range of eyewear products, from lenses to frames, and maintaining a strong presence in both manufacturing and retail.

EssilorLuxottica’s strategy revolves around being a vertically integrated company that covers various aspects of the eyewear industry, from lens manufacturing to frame design and retail distribution. Here are some key elements of their strategy:

  1. Vertical Integration: The company aims to control the entire value chain of the eyewear industry. By merging Essilor’s expertise in lens manufacturing with Luxottica’s strength in designing frames and owning popular eyewear brands, EssilorLuxottica can offer a comprehensive range of eyewear products.
  2. Brand Portfolio: EssilorLuxottica owns a diverse portfolio of eyewear brands, including well-known names like Ray-Ban, Oakley, Persol, and Vogue. This allows the company to cater to different market segments and consumer preferences.
  3. Innovation: As a leader in the industry, EssilorLuxottica focuses on innovation in both lens technology and frame design. The company invests in research and development to bring new and advanced products to the market, with a particular emphasis on improving vision quality and addressing specific eye care needs.
  4. Retail Presence: EssilorLuxottica has a significant retail presence through its own stores and partnerships with other retailers. This includes optical retail chains like LensCrafters and Sunglass Hut. This retail strategy enables the company to directly reach consumers and showcase its diverse range of eyewear products.
  5. Global Reach: The company has a strong global presence, allowing it to tap into various markets and demographics. This global reach is crucial for expanding its customer base and adapting to regional preferences and trends.
  6. Digital Transformation: Like many industries, the eyewear sector is undergoing a digital transformation. EssilorLuxottica invests in digital technologies to enhance the customer experience, whether through online retail channels, virtual try-on tools, or other digital innovations in the eyewear space.
  7. Corporate Social Responsibility (CSR): EssilorLuxottica places importance on CSR initiatives, including sustainable practices in manufacturing and a commitment to social responsibility. This aligns with the growing consumer demand for socially and environmentally responsible business practices.

Find out more