Essilor and Delfin successfully complete the combination of Essilor and Luxottica

Luxembourg and Charenton-le-Pont, France (October 1, 2018) – Delfin S.à.r.l (“Delfin”), the majority shareholder of Luxottica Group S.p.A. (“Luxottica”) and Essilor International (Compagnie Générale d’Optique) (“Essilor”), announced the successful completion of the combination of Essilor and Luxottica. The combined holding company named EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, prescription frames and sunglasses.

Combination complete
All conditions precedent to the closing of the transaction have been satisfied, including approval by Essilor shareholders in May 2017, the hive-down of substantially all Essilor activities to Essilor International SAS (a wholly-owned subsidiary of Essilor) in November 2017 and clearance from all antitrust authorities whose authorization was a condition precedent to the closing of the transaction.

Following the contribution by Delfin, the majority shareholder of Luxottica, of its 62.42% stake in Luxottica to Essilor on October 1, 2018, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica.

As consideration for the contribution by Delfin of its stake in Luxottica to Essilor, Essilor issued 139,703,301 new ordinary shares through a capital increase without preferential subscription rights pursuant to a resolution approved by Essilor shareholders in May 2017.

Following the closing, EssilorLuxottica has a share capital made of 358,840,853 shares. Its main shareholders are Delfin (38.93% of capital with voting rights capped at 31%) and EssilorLuxottica employees (4.9%). The remaining 56.8% of the shares are being publicly held.

EssilorLuxottica will soon be launching a Mandatory Exchange Offer for the remaining issued and outstanding Luxottica shares. Following the Mandatory Exchange Offer, the interest held by Delfin would decrease to a minimum of 31% of the share capital of EssilorLuxottica depending on the acceptance rate of the Mandatory Exchange Offer1.
EssilorLuxottica draws the attention of its shareholders to the fact that the closing of the contribution and the results of the Mandatory Exchange Offer could trigger upwards or downwards threshold crossing notifications by certain of its shareholders pursuant to French law and/or EssilorLuxottica by-laws.

As from October 2, 2018, EssilorLuxottica shares will be traded on Euronext Paris, under the ticker symbol EL with the same ISIN code FR0000121667. They will be part of the CAC 40 and Euro Stoxx 50 indices.

Next steps
EssilorLuxottica will launch in due course, in accordance with Italian law, a Mandatory Exchange Offer to acquire all remaining issued and outstanding shares of Luxottica not already owned by EssilorLuxottica with a view to eventually delisting Luxottica’s shares from trading.
For further information please see the specific notice on the Mandatory Exchange Offer which was published by EssilorLuxottica today under article 102 of the Italian Consolidated Financial Act.
During the first part of 2019, EssilorLuxottica will present its first combined annual results and is expecting to hold a Capital Markets Day for investors and analysts.

SILMO Paris 2018: A trade fair that keeps its promises

SILMO Paris 2018: A trade fair that keeps its promises

The 52nd edition of the International Optical Fair demonstrated its appeal on this rather dynamic global market with a satisfying turnover. Over four days, more than 37,000* professional visitors (56% of international) were able to admire the creativity of the 965 exhibitors in attendance, including 230 new companies exhibiting for the first time; and to enjoy all the features that help make SILMO Paris, the great professional trade fair, so unique and open to the world. “We are living up to our slogan, ‘so much more than just a fair,’” states Eric Lenoir, SILMO director. The event is a truly multifaceted instrument designed for all the facets of the sector: it optimises the array of exhibitors by additionally providing information, training and trend monitoring for a 360° view of our industry.” “It is marvellous to see all the creativity and energy in the aisles of the trade fair,” remarks Amélie Morel, Chairwoman of Silmo Paris.”

*Key figures of SILMO Paris 2018.
965 exhibitors including 77% foreign exhibitors
1 548 brands
230 new companies
80 000 sqm. of exhibition area

A review of the highlights of this 2018 edition.
A global new space, SILMO NEXT took a look at the future with THE SELECTION of Trendy Products, which appears in the digital magazine TRENDS by SILMO. Unveiling the style and design forecast for 2019, the publication is available for consultation at all times on the trade fair website (
The concurrent and complementary FUTUROLOGY forum presented the products, services and technologies of tomorrow, drawing connections between
well-established brands and start-ups to highlight four themes of the new markets: sports, well-being and health, entertainment, and 3D printing.

Technological companies such as Garmin, McLaren, Matérialise, Everysight, 5th Dimension, LightVision, Microoled, Atol, Cinemizer, and others presented their points of view, combining them with those of optics professionals to inspire future innovations to better rise to tomorrow’s challenges.

The international dimension of SILMO Paris has lead the organizers to welcome this year the International Opticians Association, or IOA, which honored for the first time, one personality who has contributed to the development and excellence of the optical profession. This award was given by Fiona Anderson, President of IOA and Elaine Grisdale, Director of Development of IOA, to Robert Grimard – Canadian Optician.

Since 2010, SILMO ACADEMY has been supporting ophthalmic optical professionals in their pursuit of excellence by proposing scientific workshops
and seminars through which they may perfect their knowledge and speak with experts from each field. The 9th edition of this scientific conference brought together more than a hundred opticians who learned about functional visual development with a training course on the theme “Vision and Growth, 0 to 20 years of age”, featuring a programme led by top scientists.

Following this day of discussion, the coordinators of the SILMO ACADEMY awarded a grant of 10,000 euros to Jan SKERSWETAT, from Departement of Vision and Hearing Science, Anglia Ruskin University, Cambridge. This grant encourages and acknowledges research in the field of vision. It offers
an opportunity for researchers to publish their work and gain exposure.

Vision Expo West 2018 breaks records

Vision Expo West 2018 breaks records

Alexandria, VA – October 3, 2018 – Vision Expo West’s 30th anniversary was a sweeping success, with the overall Show experiencing a nearly double digit increase in attendance compared to 2017. Pre-audited results show close to 13,000 eyecare professionals from across the world attended the event; with attendance increasing in nearly every category and substantial increases in attendance titles of Opticians and Optometrists, as well as in Independent OD and MD practices, multidisciplinary practices, chains/superstores and laboratories.

Of those in attendance, over 4,500 participated in the various education programs learning the latest in contact lens, business solutions, optical technology, retail strategies, clinical concepts and more. The buzz extended beyond the convention center with Vision Expo’s social channels garnering over 3.8 million impressions, an 11% increase from last year.

OptiCon @ Vision Expo, a dedicated program for Opticians and Contact Lens Technicians, had a successful debut at Vision Expo West, with almost 700 packages sold and a record turnout of attendees at the party and OptiCon Hub. Throughout Vision Expo West, a variety of other events and celebrations seamlessly combined networking with education on and off the Show Floor to provide attendees the opportunity to connect and collaborate. Heavy foot traffic was evident throughout the halls, including new Exhibit Hall neighborhoods, BLOCK and NEXT, featuring new exhibitors and standing room only fashion shows and panel discussions.

Exhibitors created unique experiences and memorable environments for attendees, starting at registration and extending throughout the Exhibit Hall. Winner of Best Brand Activation in the Best Booth Awards, Europa Eyewear/STATE Optical Co, created a 3D virtual experience giving attendees an inside-look at their manufacturing process. Costa took home the Best Booth Award for Most Creative Booth Design. The winners of this year’s Vision Choice Award, in which attendees can view and vote for the best product featured in the Product Gallery, included first place winner, Miraflex; second place winner, Lunette; and third place winner, Mó Eyewear.

Vision Expo East 2019 is around the corner, taking place from March 21–24 at the Javits Center in New York City, and Vision Expo West 2019 dates are set for September 18–21 back at the Sands. Plans to expand successful programs from this year’s Vision Expo West will provide the vision community the opportunity to learn and grow in their careers while guiding the industry forward.