EssilorLuxottica : EssilorLuxottica challenges the decision of the French Competition Authority (FCA) against LuxotticaSource: OMX
EssilorLuxottica challenges the decision
of the French Competition Authority (FCA) against Luxottica
Charenton-le-Pont, France (July 22, 2021 – 4:30 pm CEST) – EssilorLuxottica acknowledges that today the French Competition Authority (FCA) issued a decision against several eyewear industry players, including Luxottica Group.
The Authority imposes to Luxottica a Euro 125 million penalty for the group’s conduct which took place between 2005 and 2014 in the optical frames and sunglasses sector in France. Today’s decision closes an investigation initiated in 2005 which was considered insufficient by the FCA in 2017.
EssilorLuxottica firmly believes it has always conducted business according to the highest standard of compliance, always supporting customers, partners as well as the entire market. As such, the Company strongly disagrees with the Authority’s decision and considers the sanction highly disproportionate and groundless.
The Company will appeal the decision, confident that it will successfully demonstrate that the decision is wrong both from a factual and a legal perspective.
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux and Transitions, and world-class retail brands including Sunglass Hut, LensCrafters and since 1st July (via a 76.72% interest) - GrandVision are part of the EssilorLuxottica family. In 2020, EssilorLuxottica had over 140,000 employees and consolidated revenues of Euro 14.4 billion. The EssilorLuxottica 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: ESLX.PA; Bloomberg: EL:FP.
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