March 4, 1995 |
Italian Firm Offers $1.1 billion for U.S. Shoe: Italian eye wear maker Luxottica Group mounted a drive to acquire U.S. Shoe Corp., parent of the LensCrafters chain, for $1.1 billion, but the price did not immediately tempt U.S. Shoe. Luxottica, which sells eyeglasses worldwide, said it was making its $24-a-share offer directly to shareholders after it had been rebuffed by U.S. Shoe executives about a friendly merger.
September 21, 1999
A.G. Edwards Inc. said its profit rose 14% in the second quarter to $82.3 million, or 86 cents a share, led by gains in stock trading and asset management. The results beat analyst estimates of 80 cents and 82 cents a share, according to First Call Corp. Revenue grew 15% to $636 million. * Eyeglass maker Luxottica Group said it's cutting 110 jobs at its Rochester, N.Y.-based headquarters of Ray-Ban Sun Optics Inc. in the next two months.
May 22, 2003 |
Oakley Inc., the maker of sunglasses worn by athletes such as baseball player Ichiro Suzuki and most famously by four-time Tour de France champion Lance Armstrong, said it settled lawsuits accusing bigger rival Luxottica Group of copying patented lens designs. Financial terms were not disclosed.
April 29, 1999 |
Bausch & Lomb Inc. said Wednesday it plans to sell its sunglass business that includes the Ray-Ban brand for $640 million to Italy's Luxottica Group. Luxottica makes eyeglass frames in the medium- and premium-priced categories with brand names such as Giorgio Armani, Brooks Brothers and Anne Klein, and it owns the LensCrafters retail chain. Bausch & Lomb controls about 40% of the global premium-sunglass business, which also includes brands such as Revo, Killer Loop and Arnette priced above $30.
February 23, 2001 |
Luxottica Group said it will buy Sunglass Hut International Inc. for about $462 million, a deal that will wed the Italian eye wear maker's existing prescription business in North America with sunglasses. Luxottica will pay $11.50 a share for Coral Gables, Fla.-based Sunglass Hut, which operates 1,962 stores worldwide, and assume about $191 million in debt, the companies said. Sunglass Hut represents around one-third of the premium sunglasses market in the U.S.
January 10, 2003 |
A federal appeals court Thursday barred Luxottica Group, the world's largest maker of luxury eyewear, from selling some sunglasses in the U.S. while rival Oakley Inc. pursues a claim that the products infringe its patents. The U.S. Court of Appeals for the Federal Circuit upheld a trial court's December 2001 order preventing Luxottica from selling sunglass models with "Emerald" green or "Ice" blue tinted lenses.