Italy's Luxottica, the world's biggest and dominant eyewear company, yesterday said it will buy French luxury eyewear designer Alain Mikli, for an undisclosed sum.
Founded in 1978, Paris-based Alain Mikli is owned by founder Alain Miklitarian and London-based investment firm NEO Capital.
Alain Mikli has been a synonym of innovative design. With its sophisticated and subtly off-beat style, it is one of the most recognisable companies in the eyewear market.
In 2011, Alain Mikli posted net sales of approximately €60 million.
The acquisition will give the owner of the Ray-Ban brand of sunglasses a greater presence in the French luxury and prescription eyecare market.
''This proposed operation perfectly reflects our long-term growth strategy'', said Andrea Guerra, CEO of Luxottica. "With its innovative design, Alain Mikli would enrich our luxury eyewear segment and further strengthen our prescription soul, where we have deeply invested in the past years, to further contribute to the Group's resilient growth.''