Luxottica buys Japanese titanium and gold spectacles maker

Italian eyewear group Luxottica said on Tuesday it had acquired a 67 percent stake in Fukui Megane, a family-owned Japanese manufacturer specialising in the production of titanium and solid gold spectacles.

The Japanese company produces frames in precious metals, including 18K gold. - Fukui

The acquisition, for which Luxottica did not disclose a value, allows the world’s biggest eyewear group to gain a foothold in the Fukui eyewear district, near Kyoto, famous for its artisan skills with precious metals such as titanium.

Executive Chairman Leonardo Del Vecchio said Luxottica would invest further to create a production centre in the area.

© Thomson Reuters 2018 All rights reserved.