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Luxottica and Essilor form JV for Australian & New Zealand markets

Luxottica Group, a leader in the design, manufacture and distribution of premium fashion, luxury and sports eyewear, and Essilor International, the world leader in ophthalmic lenses, announced today that the two companies have formed a long-term 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.

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(Source: PR Newswire)