Luxottica Group, retailers and manufacturers of fashion sports eyewear, and Essilor International, manufacturer of ophthalmic lenses, announced on 8 February that the two companies have formed a joint venture for the Australian and New Zealand markets.
Under the terms of the agreement, the joint venture will manage Eyebiz Pty Ltd, Luxottica’s Sydney-based optical lens finishing laboratory, which, as a result of this alliance, will be majority controlled by Essilor.
Eyebiz will continue to supply all of Luxottica’s retail optical outlets in Australia and New Zealand: OPSM, Budget Eyewear and Laubman & Pank.
The Eyebiz management team will remain in place and report to the new board, comprised of Essilor International and Luxottica representatives.
(Source: Luxottica Group)