Monday, September 20, 2021

Eyewear giant Essilor acquires online glasses retailer MyOptique

The UK based e-retailer behind Glasses Direct and the Sunglasses Shop has signed a deal with French eyewear company Essilor.

In a deal thought to be worth £120 million, it was sold to the French company by numerous institutional investors including Index Ventures, Cipio Partners, Korys, Acton, Beringea and Highland Capital.

MyOptique has annual revenues of £57 million and has become a major player in eyewear retail since its inception in 2004. 

The agreement will see MyOptiques management remain in place and utilise Essilor‘s worldwide supply chain to further its reach.

“This transaction represents a major milestone for the MyOptique Group,” MyOptique chief executive Kevin Cornils said.

“Our new ownership provides a tremendous platform from which to continue to build a very successful business on our proven multi-category, multi-brand model.

“My management team and I are delighted by the opportunity afforded from becoming part of the Essilor family.”

Essilor is estimated to be worth around £21 billion.

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