EssilorLuxottica in talks to acquire Dutch glasses retailer to boost its global store network

Eyewear giant EssilorLuxottica is in discussions to buy Dutch glasses retailer GrandVision, in a deal worth over seven billion euros. This agreement will expand the French-Italian company’s global store network.

The company said in a statement, "EssilorLuxottica confirms that it is in discussions to acquire the 76.72 percent held by HAL Holding NV in GrandVision. No agreement has been reached as yet and it is not certain that the talks will lead to an agreement."

By adding GrandVision, EssilorLuxottica will gain over 7,000 stores in more than 40 countries. 

GrandVision sells prescription glasses, contact lenses and other eyecare products.

France's Essilor, the world leader in the lens, and Italy's Luxottica, number one in eyewear with brands like Prada, Chanel and Ray-Ban, had merged in October to form a group with annual sales of around 15 billion euros.

EssilorLuxottica eyewear brands include an array of designer labels including Armani Exchange, Burberry, Bulgari, Brooks Brothers, Chanel, Dolce & Gabbana, Michael Kors, Prada, Polo, Valentino, Tory Burch, and Versace.