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Luxottica Buys Stake in Japanese Eyewear Supplier

Luxottica Group S.p.A. announced the  acquisition of a 67% stake in Fukui Megane Co. Ltd, one of the leading manufacturers in the eyewear district of Fukui specialized in the production of titanium and solid gold eyewear frames.
 
According to a statement released by Luxottica this morning, the transaction has an important strategic value as it establishes Luxottica’s entry into the  production heart of “Made in Japan” in the Fukui eyewear district and the acquisition of a truly unique manufacturing capability.
 
Established in 1969, Fukui Megane embodies the excellence and quality of the Japanese eyewear tradition renowned throughout the world for its high craftsmanship, design, and fine materials. Its website
 
"The acquisition of Fukui Megane represents a first step for the entry of our Group in the world of Japanese production,” says Leonardo Del Vecchio, executive chairman of Luxottica Group. “We intend to continue investing to recreate a productive pole of excellence in Sabae, in line with the Luxottica model. For the first time in the history of eyewear, we will have under the same roof two great artisan schools such as the Italian and the Japanese ones."
 
Financial details of the deal were not disclosed. The transaction is subject to customary closing conditions.

Show above: frames from Fukui Megane