EU regulators are set to warn EssilorLuxottica that its 7.2 billion euro bid for opticians group GrandVision may harm competition, people familiar with the matter said, pressuring the group to offer concessions.
Luxottica will give employees a monitor that alerts them if they are not respecting social distancing rules and keeps track of contacts with people potentially at risk of coronavirus infection, it said on Thursday.
Oakley and Ray-Ban maker EssilorLuxottica reported a slump in first-quarter sales on Tuesday and warned of an even bigger hit in the current quarter as the coronavirus outbreak prompted store closures.
EssilorLuxottica is suspending its dividend due to the coronavirus pandemic, it said Monday, adding its annual shareholder meeting has been delayed and its Essilor chief executive officer, Laurent Vacherot, has retired.
EU antitrust regulators are focusing on the impact of Ray-Ban maker EssilorLuxottica's 7.2 billion euro bid for Dutch opticians group GrandVision in Italy and Britain, according to an EU document seen by Reuters.
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.
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.