ESSILOR-LUXOTTICA: Analysis of the merger between two leaders in the optical industry

The case study exposes the different facets of the merger between Essilor and Luxottica. Essilor's main activity is the manufacture of spectacle lenses. That of Luxottica is the manufacture of frames and sunglasses. Both companies are world leaders in their fields. Both are European companies: Essilor is French and Luxottica is Italian.

The case provides a lot of information allowing a good understanding of the main industries concerned: competitive arena, structural conditions, development trends and competitors. The two companies are then presented: history, activities, value chains, governance and performance. This presentation is followed by that of the merger itself. The merger process and its implementation are presented from the beginning of 2017 to the end of the first half of 2021. The announced economic benefits of the merger are listed, as well as the financial data for the merged company. Finally, the takeover of GrandVision, a Dutch distribution company, by the new group "EssilorLuxottica" is analysed.

Several appendices allowing a better understanding of the sector, the companies and the merger are provided.

After working on the case, students will be capable of analysing:
- The internal and external economic conditions of a merger: industries and companies
- The expected benefits of a merger, given these conditions
- The merger process and post-merger period, taking into consideration governance and       management issues
- The analysis process and point of view of a competition regulator

Mergers and acquisitions - International mergers and acquisitions - Post-merger integration - Synergies - Merger control

Students: Master and Mastères spécialisé
MBA, Executive MS

Eyewear frames and corrective lenses

PPT: Debriefing (49 slides)

Année de la problématique : 2021

Livraison : Livraison par lien de téléchargement

Nombre de pages : 38 avec 16 page(s) annexe(s)

Temps d'utilisation : plus de 3 heures

Code du secteur d'activité : 33 - Fabrication d'instruments médicaux, de précision, d'optique et d'horlogerie