Luxottica Group Invests in ‘made in Japan’
The Group acquired a 67% stake in Fukui Megane, a major producer in the Fukui eyewear district
Milan (Italy), March 6, 2018 – Luxottica Group S.p.A. (MTA: LUX), a leader in the design, manufacture, distribution and sale of fashion, luxury and sports eyewear, 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.
The transaction has an important strategic value as it establishes Luxottica 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. The company in the town of Sabae, Fukui district, can count on over a hundred of masters in design and engraving of precious metals such as titanium.
"The acquisition of Fukui Megane represents a first step for the entry of our Group in the world of Japanese production. 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," comments Leonardo Del Vecchio, Executive Chairman of Luxottica Group.
The transaction is subject to customary closing conditions.