Maxi merger between Essilor and Luxottica

Luxottica and Essilor have merged to create the biggest giant in the international eyewear industry, with a total of 140,000 employees worldwide and sales in over 150 countries. Essilor will become a holding under the new name of “EssilorLuxottica”, following transfer of all its operational activities to a wholly owned subsidiary, called Essilor International, and transfer by Delfin (the holding that controls Luxottica) of its Luxottica shares. Delfin will be the controlling shareholder of EssilorLuxottica with a stake of between 31% and 38%. Del Vecchio will serve as executive chairman and CEO Whereas the Chairman and CEO of Essilor, Hubert Sagnières, will become Vice Executive President and CEO of EssilorLuxottica, with the same powers as the Executive Chairman and CEO. Leonardo Del Vecchio and Hubert Sagnières will continue in their respective roles as Chairman of Luxottica and Chairman and CEO of Essilor.