Eyewear giant EssilorLuxottica is in talks to acquire GrandVision, the Dutch glasses retailer, in a deal worth more than seven billion euros. This deal 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."
With the addition of GrandVision, EssilorLuxottica will gain over 7,000 stores in more than 40 countries.
GrandVision sells prescription glasses, contact lenses and other eyecare products.
In October, France's Essilor, the world leader in the lens, and Italy's Luxottica, number one in eyewear with brands such as Prada, Chanel and Ray-Ban, had merged 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.