A PYMNTS Company

Ray-Ban Maker Committed to GrandVision Deal

By  |  June 10, 2020

EssilorLuxottica, the maker of Ray-Ban sunglasses, remains committed to its proposed €7.3 billion-euro (US$8.3 billion) purchase of retailer GrandVision NV, people with knowledge of the matter said.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Franco-Italian company still sees value in acquiring GrandVision’s network of eyewear shops across Europe, according to the people, who asked not to be identified because the information is private. It is focused on securing antitrust approvals for the deal, the people said.

    This week EU regulators formally warned of their concerns that the planned multibillion euro merger of EssilorLuxottica and GrandVision could harm competition.

    EU officials are worried the deal could lead to a reduction in competition in the wholesale market for eyewear and lenses and the retail supply of optical products. Regulators are also investigating whether the merger would lead to higher prices and a reduction of choice for consumers.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.