Luxottica Group (MTA: LUX; NYSE: LUX), a leader in the design, manufacturing and distribution of premium fashion, luxury and sports eyewear, and Essilor International (NYSE Euronext: EI), 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 Limited, 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: http://www.luxottica.it/en/
