×
92 293
Fashion Jobs
RALPH LAUREN
General Manager
Permanent · Destin
GAP
Asset Protection Coordinator - Fulton Street Mall
Permanent · New York
GAP
General Manager - Los Cerritos
Permanent · Cerritos
NIKE
Merchandising Manager, Men’s, Nike Direct Digital Commerce – Asia Pacific Latin America
Permanent · Beaverton
NIKE
Merchandising Manager, Women’s, Nike Direct Digital Commerce – Asia Pacific Latin America
Permanent · Beaverton
NIKE
Merchandising Manager, Kids & Accessories, Nike Direct Digital Commerce – Asia Pacific Latin America
Permanent · Beaverton
NIKE
Director, Supply Chain Operations, North America Sports Marketing
Permanent · Beaverton
NIKE
Lifecycle Marketing Manager – Retention
Permanent · Beaverton
NIKE
Senior Business Analyst, North America Sports Marketing
Permanent · Beaverton
ROSS STORES
Loss Prevention Associate - 2nd Shift
Permanent · Carlisle
NEW BALANCE
Production Manager
Permanent · Methuen
L'OREAL GROUP
Packaging Operator, Saturday-Monday Days
Permanent · Franklin Township
BATH & BODY WORKS
Senior Manager Asset Protection
Permanent · ATLANTA
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Full Time - ny 59th st
Permanent · NEW YORK
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Woodlands
Permanent · The Woodlands
MACY'S
Multi-Store Detective, Westshore - Full Time
Permanent · Tampa
MACY'S
Manager, Merchandise Execution
Permanent · San Antonio
MACY'S
Manager, Merchandise Execution
Permanent · Bronx
MACY'S
Visual Security Officer Associate, Scottsdale Fashion Square - Full Time
Permanent · Scottsdale
MACY'S
Asset Protection Captain, Center City - Full Time
Permanent · Philadelphia
MARC JACOB'S
Sales Supervisor
Permanent · Camarillo
MARC JACOB'S
Stock Supervisor
Permanent · Houston
By
AFP
Translated by
Nicola Mira
Published
May 11, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Essilor shareholders vote overwhelmingly in favour of fusion with Luxottica

By
AFP
Translated by
Nicola Mira
Published
May 11, 2017

An overwhelming majority of the shareholders of Essilor, the world number one in ophthalmic optics, have approved the proposed merger with Luxottica, world leader in eyeglasses frames, creating an integrated world optics giant.


Essilor.com


The shareholders, who met for Essilor's AGM in Paris, have approved a series of resolutions linked to the merger with sweeping majorities, ranging between 95% and 99%.

The merger between the French and Italian groups was announced last January, and the shareholders' approval was crucial for the operation to be finalised by the end of the year, as per schedule.

The new corporate entity will be called EssilorLuxottica, and will be worth approximately €16 billion in annual revenue, with a stock market capitalisation in excess of €50 billion.

Essilor's CEO Hubert Sagnières hailed this as a "historic moment" for the group. "We are about to re-enact, to the power of ten thousand, the merger between Essel and Silor," which in 1972 gave rise to the Essilor group, he added speaking at the AGM.

Essilor and Luxottica are "two highly successful companies, each with its own history and roots. They could have continued along their corporate routes in parallel, but lenses and frames are made to function together," said Hubert Sagnières, as Luxottica's founder and patron, Leonardo Del Vecchio, looked on. Del Vecchio had a front-row seat at the AGM, but did not address the meeting.

Luxottica develops, produces and distributes eyewear under licence for some twenty fashion labels such as Chanel, Prada, Dolce & Gabbana and Ralph Lauren, as well as being the owner of brands like Ray-Ban, Persol and Oakley.

For the merger to be finalised, several more steps still need to be taken, especially with regards to the approval by the relevant antitrust regulatory authorities. Obtaining the approval "will require a lot of effort, work and time, but we aren't particularly worried," said Laurent Vacherot, Deputy Managing Director of Essilor.

Pending the approval, the Delfin holding company, owned by Leonardo Del Vecchio and his family, will transfer all the Luxottica shares it holds, equivalent to a 62.55% stake in the Italian group's capital, in exchange for new shares issued by Essilor.

Once the transaction will be finalised, Delfin will hold 38% of EssilorLuxottica's capital and voting rights, a stake which will then have to be brought down to 31% after a share swap offer by Essilor for the remaining shares.

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.