Essilor broadens online footprint in Europe
by acquiring MyOptique Group
Charenton-le-Pont, France ( August 16, 2016 - 8:30 am) - Essilor has entered into a definitive agreement to acquire MyOptique Group Ltd., a leading European online prescription glasses, contact lenses and sunglasses business.
The transaction is fully consistent with Essilor's mission to "improve lives by improving sight". Essilor's online business helps to raise awareness among an ever-growing community of consumers about the importance of protecting and correcting their eyesight. It also facilitates access to high-quality optical products that improve visual health, thus benefiting all industry players.
Based in the United Kingdom, MyOptique Group reported £57 million in revenue in the year ended April 30, 2016. The company's unique value proposition is built around a successful multi category, multi brand model, which is being deployed through a number of local websites, such as Glasses Direct (prescription glasses) and SunglassesShop (non-prescription sunglasses) in the UK, Lensbest (contact lenses) in Germany and LensOn (contact lenses) mainly in the Nordic countries.
In addition, MyOptique Group is driving innovation to provide the best possible customer experience and has developed several house brands, such as London Retro and Scout marketed by Glasses Direct. It serves around one million active customers.
The acquisition will enable Essilor to broaden its online footprint to Central Europe and to enhance its capabilities in successful multi-category, multi-brand models.
MyOptique Group's key management team will remain in place.
The transaction is subject to customary closing conditions.
The world's leading ophthalmic optics company, Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. Its mission is to improve lives by improving sight. To support this mission, Essilor allocates more than €200 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Its flagship brands are Varilux ® , Crizal ® , Transitions ® , Eyezen(TM), Xperio ® , Foster Grant ® , Bolon(TM) and Costa ® . It also develops and markets equipment, instruments and services for eyecare professionals.
Essilor reported consolidated revenue of more than €6.7 billion in 2015 and employs 61,000 people worldwide. It markets its products in more than 100 countries and has 32 plants, 490 prescription laboratories and edging facilities, as well as five research and development centers around the world. For more information, please visit www.essilor.com .
The Essilor share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP.
Véronique Gillet - Sébastien Leroy
Tel.: +33 (0)1 49 77 42 16
Tel.: +33 (0)1 49 77 45 02
Tel.: +33 (0)1 49 77 45 02