Luxottica
Italian eyewear company
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March 2022 | EssilorLuxottica launched the OneSight EssilorLuxottica Foundation to consolidate and unify the group's philanthropic efforts, with a primary focus on providing vision services to underserved communities. |
2019 | LensCrafters founder E. Dean Butler publicly admitted to Luxottica's industry dominance, revealing massive price markups of nearly 1,000% in eyewear. |
October 1 2018 | EssilorLuxottica was officially established, creating a new holding company with a combined market capitalization of approximately $70 billion. |
August 2018 | Luxottica restored the Accademia Bridge in Venice, demonstrating their commitment to cultural preservation and urban infrastructure. |
March 2018 | The European Commission unconditionally approved the merger between Essilor and Luxottica. |
2017 | Luxottica held 41% of the prescription lens market share according to industry data. |
January 2017 | Luxottica announced its merger with Essilor, with Essilor set to buy Luxottica and Del Vecchio becoming executive chairman of the combined company. |
2016 | Luxottica lost its third chief executive in a year and a half when Adil Mehboob-Khan stepped down one year after gaining the position. Following this departure, Leonardo Del Vecchio reclaimed executive powers and became more actively involved in the company. |
2015 | Luxottica became the largest optical retailer in the United States, capturing 7.3% of US retail sales. |
2014 | Luxottica acquired Coastal/Clearly, an online contacts and glasses retail platform that ships to over 200 countries. |
September 1 2014 | Luxottica announced a new organizational structure with two co-CEOs, one focusing on market development and the other overseeing corporate functions. Enrico Cavatorta was appointed CEO of Corporate Function and Interim CEO of Market. |
2012 | 60 Minutes segment focused on Luxottica's extensive industry holdings and potential price manipulation practices. |
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