EssilorLuxottica acquires Optical Investment Group

Eyewear giant EssilorLuxottica continues to strengthen its power in the retail sector. The group that recently acquired the originally New York fashion brand Supreme is taking over the Romanian optical chain Optical Investment Group, reported by EssilorLuxottica in a press release.

Optical Investment Group is one of Romania’s leading retailers. The company was created in 2019 through the merger of two optical retail brands: Optiblu and Optiplaza. It has 99 stores, a large e-commerce network and over 650 employees. The acquisition is expected to close by the end of this year after approval by market regulators. Financial terms not disclosed.

Francesco Milleri, Chairman and CEO of EssilorLuxottica, shared in the press release: “We are delighted to welcome Optical Investment Group to our network, an established player in the Romanian optical market with an experienced management team and a deep understanding of local dynamics. This acquisition enables us to further expand our retail presence in the CEE region and supports our goal of enhancing the Romanian market and expanding access to high-quality eye care for the benefit of all our stakeholders.”

The Italian-French EssilorLuxottica is the parent company of Pearle, Ray-Ban, Oakley, Eyewish, Grandoptical and Oliver Peoples, among others.

This article was originally published on FashionUnited.NL, translated and edited to English.