EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica’s 7.2 billion-euro bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing.
Under parent company EssilorLuxottica, Persol has experienced some key moments of growth within the past year, having opened its premiere New York boutique, and third Persol store globally, in November.
EssilorLuxottica’s 7.2 billion euro bid for Dutch opticians group GrandVision faces a full-scale EU antitrust investigation after it declined to offer concessions to address concerns, sources told Reuters on Friday.
Growing demand for vision correction should boost sales of Ray Bans and other eyeglasses, EssilorLuxottica said on Wednesday, with profits also driven by cost cuts of up to 600 millions euros a year from 2022.
EssilorLuxottica's shareholders have rejected the appointment of two new independent directors to the board of the Franco-Italian eyewear group, raising fresh doubts over whether a management crisis has been resolved.
EssilorLuxottica declared an end to a damaging feud between its French and Italian partners on Monday, saying it would focus on finding a new chief executive and integrating the eyewear group formed by a merger.