The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. 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Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. “Colette mon amour”: The documentary that traces the end of a “historical monument”. The European Commission will send a statement of objections outlining its concerns in the coming days, the people said, … Read also > ESSILORLUXOTTICA RAISES THREE BILLION EUROS IN BONDS. Mergers Merger Cases. EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica's 7.2 billion-euro ($7.8 billion) bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing. On 6 February 2020, the Commission decided to initiate proceedings in the above-mentioned case after finding that the notified concentration raises serious doubts as to its compatibility with the internal market. As expected (see EUROPE B12416A28), the European Commission opened on Thursday 6 February an in-depth investigation into the proposed acquisition of GrandVision (a Dutch company) by EssilorLuxottica (a French-Italian company). The European Commission launched a full-scale investigation on Feb. 6 on worries that the deal could push up prices or reduce choice for consumers. She has published extensively in her fields of expertise. EssilorLuxottica, which owns the Oakley and Persol brands and Varilux lenses, was formed last year from the merger of French lens maker Essilor and … [THE LUXURY JOURNALS] Jean-Luc Dechery (Camille Fournet): “Today, we are able to trace the origin of a bracelet.”, [THE LUXURY JOURNALS] 4 questions to Frank Boehly, President of the National Leather Council, [The Luxury Journals] Noémie Dumesnil (Authentic Material) : “Our goal is to maximize naturality and pedagogy for our clients”. The Commission will assess whether the acquisition will result in increased prices or reduction of choice for consumers and has until June 22 to make a decision. Meeting with Sylvain Gandolfo Director of ISG Luxury Management, [The Luxury Journals] Pauline Laigneau (Gemmyo) : “Le Gratin brought me the fresh air I needed!”, Luxury hotels: Palaces focus on take-away sales, Gucci unveils first images of its outdoor-chic capsule with The North Face. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. EssilorLuxottica's eyewear and retail brands include Oakley, Sunglass Hut and Spectacle Hut. "The (European) Commission extended the deadline in agreement with the parties," the EU competition enforcer said in a statement. ... EssilorLuxottica's eyewear and … hosting providers, market and analyst service providers, database management and maintenance services). It is not the first time the deal has run into difficulties. EU regulators are not the only ones with concerns over the transaction. EssilorLuxottica said it would increase its offer price to 28.42 euros per share if the deal did not occur within 12 months of the announcement. The European Commission, which opened a full-scale investigation on Feb. 6, is concerned that the deal could push up prices or reduce choice for consumers. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. hosting providers, market and analyst service providers, database management and maintenance services). THE LATTER DRAWS THE ATTENTION OF ITS READERS TO ALL THE MAJOR PLAYERS IN THESE SECTORS WHO SHARE THEIR EXPERIENCES, VISIONS AND KNOW-HOW. 31/01/2020 (Agence Europe) – The European Commission is ready to open an in-depth investigation into the €7.2 billion bid launched by EssilorLuxotica for the Dutch optical group Grandvision, Reuters news agency reported on Friday 31 January, according to sources close to the case. EssilorLuxottica, formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, gave up the chance to offer concessions on Thursday, the deadline for doing so, the European Commission website showed. She has published extensively in her fields of expertise. EssilorLuxottica, a major player in the production of optical frames and lenses, has proposed to buy a 76.72% stake in optical retailer GrandVision, for EUR 5.5bn. (Adds European Commission, GrandVision decline comment, EssilorLuxottica not immediately available) By Foo Yun Chee. The European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice … On this page you can search for all merger cases. A commission spokesperson also declined to comment. EU regulators are not the only ones with concerns over the transaction. EssilorLuxottica’s takeover of Vision Express-owner GrandVision will be subject to an investigation by the European Commission. Study: Faced with the different appellations of diamonds, how do consumers find their way around? The Commission is concerned that the merger may reduce competition for the wholesale supply of … Luxury, ally or enemy of a more responsible society? The European Commission will send a statement of objections outlining its concerns in … The European Union only approved the 48-billion-euro merger of Essilor and Luxottica after a long study. EU antitrust regulators on Tuesday, February 25, extended their investigation into Ray-Ban maker EssilorLuxottica’s €7.2 billion (US$7.8 billion) bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing. The parties are confident that Phase II will be completed in a timely manner and … The Strategy Committee consists of six members but, unless otherwise determined by a joint decision of the EssilorLuxottica Executive Chairman and the EssilorLuxottica Executive Vice-Chairman, all Board members shall be invited to attend (but not to vote at) its meetings, except for meetings convened to discuss sensitive and significant acquisition projects. Update on the proposed acquisition of GrandVision by EssilorLuxottica. The European Commission has initiated a … Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. The Commission, which will open the full-scale probe following the end of its preliminary review on Feb. 6, and EssilorLuxottica declined to comment. The big known-unknown is the response of the European Commission and, in particular, antitrust commissioner Margrethe Vestager. Get notified about exclusive offers every week! The European Commission, the executive body of the EU, declined to comment. NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. EssilorLuxottica acquired HAL Holdings’ 76.72% interest in GrandVision in July, 2019 and a European Commission investigation was launched in February, 2020 over competition concerns. Morin Oluwole (Global Head of Luxury at Facebook): “The concept of ‘corporate citizenship’ can be a determining factor in purchasing”. 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The European Commission, the executive body of the EU, declined to comment. EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. EU antitrust authorities have extended their investigation into Ray-Ban maker EssilorLuxottica's 7.2 billion euro (6.5 billion pounds) bid for Dutch opticians group GrandVision by a week to Aug. 27. The Company designs, manufactures and markets a … (PRESS RELEASE) CHARENTON-LE-PONT, FRANCE, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. For currently open merger cases follow this link open merger cases. The deadline already had been pushed back three … For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. EssilorLuxottica is in talks to buy a stake in GrandVision as the glasses behemoth eyes control of the industry. This winter’s big accessory trend and must-have: fashion is rehabilitating the glove! NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. ISG Luxury Management Webinar: What to remember about Chantal Thomass’ presentation! [EN] CLAIRE DOMERGUE, A SPECIALIST IN COMMUNICATION IN THE LUXURY SECTOR, HAS SURROUNDED HERSELF WITH EXPERTS TO CREATE THE FIRST MEDIA DEDICATED TO THE ECONOMIC NEWS OF LUXURY AND FASHION. OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. On 6 February, the European Commission commenced an investigation into the proposed merger of EssilorLuxottica, the world’s largest supplier of ophthalmic lenses and eyewear, and GrandVision, Europe’s largest optical retail chain. The Commission has until 13 August to give its verdict on the deal. Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. For latest updates of cases follow this link updates of cases. At the time, the European Commission noted EssilorLuxottica is the world's largest supplier of eyewear, and GrandVision is Europe's largest optical retail chain. Retailers and rival lens makers have similarly voiced worries, sources have told Reuters. The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com. EssilorLuxottica declined to comment. MORE THAN A SPECIALIZED WEBZINE, LUXUS PLUS IS A MULTI-SECTOR INFORMATION SYSTEM, WHICH HAS BECOME THE REFERENCE MONITORING TOOL FOR LUXURY AND FASHION PROFESSIONALS. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) The European Commission launched a full-scale investigation on Feb. 6 on worries that the deal could push up prices or reduce choice for consumers. EssilorLuxottica, formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, gave up the chance to offer concessions on Thursday, the deadline for doing so, the European Commission website showed. Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. The move suggests the European Commission wants concessions to address their concerns and that they could open an in-depth investigation if these are not given or seen as insufficient. The European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice for consumers. The European Sting is Your democratic, independent and top quality political newspaper specialized in European Union News. Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. Brussels concerned €7bn merger will hurt wholesale market for eyewear and lead to higher prices EssilorLuxottica acquired HAL Holdings’ 76.72% interest in GrandVision in July, 2019 and a European Commission investigation was launched in February, 2020 over competition concerns. According to the Financial Times, the EssilorLuxottica group will respond to the Commission’s concerns by the end of the month and will be able to contact the regulators to defend this acquisition. But the European Commission has suspended its competition investigation since April 7, leading to a real threat that the transaction will not win approval of regulators in Brussels on time. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. This news service previously reported that the European Commission’s (EC) review, which could be a phase II candidate, is likely to focus on vertical foreclosure, although any horizontal overlaps would also be examined. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. Ce dernier attire tout particulièrement l’attention de ses lecteurs sur l’ensemble des acteurs majeurs de ces secteurs qui y partagent leurs expériences, visions et savoir-faire. The European Commission, which opened a full-scale investigation on Feb. 6, is concerned that the deal could push up prices or reduce choice for consumers. Grâce à une veille accrue et à une excellente connaissance du secteur, nous nous intéressons aux principaux enjeux économiques et technologiques de la mode, la haute horlogerie, la joaillerie, la gastronomie, des cosmétiques, parfums, de l’hôtellerie, l’immobilier de prestige…, COPYRIGHT 2020 LUXUS + ALL RIGHTS RESERVED, Our site uses cookies. Plus qu’un webzine spécialisé, Luxus Plus est un système d’information multi-sectoriel, devenu l’outil de veille de référence pour les professionnels du luxe et de la mode. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. The European Commission declined to comment. Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica.. The European Commission’s competition regulator body did not give details for the move. It plans to launch a takeover bid for the balance of the capital at a price of 28 euros per share, valuing the company at 7.2 billion euros. EssilorLuxottica set to get EU warning about Dutch deal: sources. What challenges await Chloé’s new artistic director? The European Commission fears that the takeover could lead to a reduction in competition on the wholesale market for eyeglasses and contact lenses and on the retail market for optical products. According to the Financial Times, the EssilorLuxottica group will respond to the Commission’s concerns by the end of the month and will be able to contact the regulators to defend this acquisition. THANKS TO AN INCREASED WATCH AND AN EXCELLENT KNOWLEDGE OF THE SECTOR, WE ARE INTERESTED IN THE MAIN ECONOMIC AND TECHNOLOGICAL STAKES OF FASHION, FINE WATCHMAKING, JEWELRY, GASTRONOMY, COSMETICS, PERFUMES, HOTELS, PRESTIGIOUS REAL ESTATE...********[FR] Claire Domergue, spécialiste de la communication dans le secteur du luxe, s’est entourée d’experts pour créer le premier média consacré à l’actualité économique du Luxe et de la mode. According to the Financial Times, the EssilorLuxottica group will respond to the Commission’s concerns by the end of the month and will be able to contact the regulators to defend this acquisition. … Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. Mergers: Commission opens in-depth investigation into proposed acquisition of GrandVision by EssilorLuxottica* The European Commission has opened an in-depth investigation to assess the proposed acquisition of GrandVision by EssilorLuxottica, under the EU Merger Regulation. China represents a crucial part of Kering’s sustainable development strategy, Louis Vuitton : The most sought-after luxury brand on Google among millennials, according to SEMrush, Dior reinvents the Dolce Vita and launches a scooter and a range of matching accessories in partnership with Vespa, Anthony Ledru nominated as head of Tiffany, Tiffany and Co : Holidays bring record sales, The most eagerly awaited moments of London Digital Fashion Week, US : Resurgent virus cases cast shadow over Macy’s holiday outlook, The market for second-hand watches and jewelry is growing in strength, CAC 40: Paris Stock Exchange stable for the final session of 2020, luxury in the spotlight, The new collection of decorative items for the home by Cartier, ESSILORLUXOTTICA RAISES THREE BILLION EUROS IN BONDS. Lack of awareness and access have led to a global vision crisis with severe social and economic consequences for billions of people. The initiation of proceedings opens a second phase investigation with regard to the notified concentration, and is without prejudice to the final decision on the case. A legal bid by EssilorLuxottica for the disclosure of information about how GrandVision conducted business during the pandemic was dismissed by the Dutch District Court in September, 2020 and an appeal was … The parties are confident that Phase II will be completed in a timely manner and will closely cooperate with the European Commission to fully demonstrate the rationale … February 25, 2020. But the European Commission has suspended its competition investigation since April 7, leading to a real threat that the transaction will not win approval of regulators in Brussels on time. The European Commission’s competition regulator body did not give details for the move. According to Reuters, the deal has sparked concerns among retailers and rival lens makers, sources have told Reuters. 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