EssilorLuxottica, the global leader in eyewear and eyecare industry, announces the launch of a share buyback program. This reflects the brand’s confidence in its value creation and long-term prospects. With a view to implement this share buyback program, EssilorLuxottica has granted a mandate to an investment services provider for the purchase of up to 3,000,000 EssilorLuxottica shares. This again depends on market conditions, over a period starting from 17 March 2020 up until 27 May 2020.
The shares so acquired are intended to be awarded or transferred to employees and corporate directors of EssilorLuxottica and affiliated companies, especially in the context of profit-sharing plans, bonus and performance share awards, stock option plans, and employee share ownership plan.
The Eyewear and the Eyecare Industry in 2020 :
As per a report, 2020 is going to be an interesting year for eye care industry. One can say that, it’s going to be a year of eye care trends that are focused on patient outcomes. Specialty eyewear continues to be on the rise as well in 2020, with more patients prioritizing the eye health at work with blue light glasses and safety glasses. Further, EllisorLuxottica will bring in together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear and set new industry standards for vision care and the consumer experience around it. Its interesting to note that EssilorLuxottica had over 150,000 employees and consolidated revenues of Euro 17.4 billion and its share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.