Luxottica Group S.p.A., a leader in the designing, manufacturing and distribution of fashion, luxury and sports eyewear, announces the closing of its acquisition of a 40 percent participation in Multiopticas Internacional S.L. - previously announced on May 27.
This transaction, which is worth approximately Euro 40 million, marks Luxottica's entry into the retail business in South America, a region with excellent growth potential and where the Group already has a solid presence through its wholesale network.
Luxottica Group is a leader in premium fashion, luxury and sports eyewear, with over 6,150 optical and sun retail stores in North America, Asia-Pacific, China, South Africa and Europe and a strong and well balanced brand portfolio.
Luxottica's key house brands include Ray-Ban, the best known sun eyewear brand in the world, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, while license brands include Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Polo Ralph Lauren, Prada, Salvatore Ferragamo, Tiffany and Versace.
Multiopticas Internacional was incorporated in Spain in 1987 and started that year its operations in Portugal where it became over a period of ten years the leading eyewear company in the country. In 1999 it started its operations in South America, first in Chile, followed by Peru.