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 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. EssilorLuxottica, which owns the Oakley and Persol brands and Varilux lenses, was formed last year from the merger of French lens maker Essilor and … For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. 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. … 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. The group had announced to its majority shareholder HAL last July its intention to acquire 76.72% of the capital of GrandVision. 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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 is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. (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. The European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice … 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. EU regulators are not the only ones with concerns over the transaction. Read also > ESSILORLUXOTTICA RAISES THREE BILLION EUROS IN BONDS. EssilorLuxottica declined to comment. Mergers Merger Cases. 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. Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. 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. Retailers and rival lens makers have similarly voiced worries, sources have told Reuters. Lack of awareness and access have led to a global vision crisis with severe social and economic consequences for billions of people. The parties are confident that Phase II will be completed in a timely manner and … February 25, 2020. THE LATTER DRAWS THE ATTENTION OF ITS READERS TO ALL THE MAJOR PLAYERS IN THESE SECTORS WHO SHARE THEIR EXPERIENCES, VISIONS AND KNOW-HOW. World luxury tracking : Survey on luxury consumption trends affected by the global pandemic, Renewed energy for McLaren in the face of the pandemic, Louis Camilleri is stepping down as CEO of Ferrari and President of Philip Morris International with immediate effect. [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. A commission spokesperson also declined to comment. The European Commission, the executive body of the EU, declined to comment. Brussels concerned €7bn merger will hurt wholesale market for eyewear and lead to higher prices 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. The Company designs, manufactures and markets a … It is not the first time the deal has run into difficulties. The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com. 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. 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. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. 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. ISG Luxury Management Webinar: What to remember about Chantal Thomass’ presentation! The European Commission will send a statement of objections outlining its concerns in … On this page you can search for all merger cases. 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 … Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. 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. "The (European) Commission extended the deadline in agreement with the parties," the EU competition enforcer said in a statement. Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. 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. Morin Oluwole (Global Head of Luxury at Facebook): “The concept of ‘corporate citizenship’ can be a determining factor in purchasing”. 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. 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. 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. EssilorLuxottica's eyewear and retail brands include Oakley, Sunglass Hut and Spectacle Hut. The European Commission’s competition regulator body did not give details for the move. 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. hosting providers, market and analyst service providers, database management and maintenance services). Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. Update on the proposed acquisition of GrandVision by EssilorLuxottica. The European Commission declined to comment. Learn more about our use of cookies: cookie policy, France’s Interparfums raises 2020 revenue forecast to over 340 million euros, LVMH – Tiffany agreement: the New York jeweler sold its shares for a total of 17.4 million dollars, Covid-19: Facing the dissatisfaction of hotel industry professionals, the French government reinforces its aid to the sector, International tourism: Luxury hotels are blooming in Bangkok, Stock market : Hermès’ good annual performance, Champagne remains the benchmark drink in Japan, The local customer at the heart of the luxury rebound, [THE LUXURY JOURNALS] 5 questions to Michel Navas, Master Watchmaker at “La Fabrique du Temps” Louis Vuitton, [THE LUXURY JOURNALS] Nathalie Remy : “Christofle is the oldest luxury start-up in the world”, Frank BOEHLY (French Leather Council): “The global leather ecosystem is under threat”, Chinese New Year: Coty unveils a limited edition lipstick line for Gucci, Paris, Milan and London: Fashion Weeks reorganize their calendars in response to the health crisis, Champagne : Ruinart dominated Google searches in 2020, Luxury : Five elements to include in your brand strategy in 2021, High-end automotive : The historic battle of French carmakers, The world of vintage watches is gaining popularity, Audemars Piguet is hiring, while the entry-level watch sector is suffering, The difficult transition of the luxury car sector to electric cars, To close its Climate Week, the LVMH Group highlights the environmental performance of its stores, Luxury retail : Lancel continues its conquest of innovation with Adyen, “Luxury, a necessary superfluity today?” : The 3rd wave of the Cetelem study, Mazars and Arianee join forces to analyse the transformation of the luxury sector. 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. 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. 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. Study: Faced with the different appellations of diamonds, how do consumers find their way around? 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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. For currently open merger cases follow this link open merger cases. 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. “Colette mon amour”: The documentary that traces the end of a “historical monument”. 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.. For latest updates of cases follow this link updates of cases. EssilorLuxottica and GrandVision acknowledged the European Commission’s Phase II review in a statement. Get notified about exclusive offers every week! 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. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. 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. What challenges await Chloé’s new artistic director? The European Commission’s competition regulator body did not give details for the move. 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. Margrethe Vestager, executive vice-president of the European Commission, said: ‘EssilorLuxottica is the world's largest supplier of eyewear and GrandVision is Europe's largest optical retail chain. 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. 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. 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. 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 … 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. EssilorLuxottica’s takeover of Vision Express-owner GrandVision will be subject to an investigation by the European Commission. 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 … This winter’s big accessory trend and must-have: fashion is rehabilitating the glove! 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. OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. The Commission is concerned that the merger may reduce competition for the wholesale supply of … EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. The European Sting is Your democratic, independent and top quality political newspaper specialized in European Union News. The European Union only approved the 48-billion-euro merger of Essilor and Luxottica after a long study. 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. EU regulators are not the only ones with concerns over the transaction. Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. 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. The European Commission will send a statement of objections outlining its concerns in the coming days, the people said, … 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. She has published extensively in her fields of expertise. The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. According to Reuters, the deal has sparked concerns among retailers and rival lens makers, sources have told Reuters. The European Union only approved the 48-billion-euro merger of Essilor and Luxottica after a long study. How do I switch from corporate finance to public affairs? hosting providers, market and analyst service providers, database management and maintenance services). ... EssilorLuxottica's eyewear and … The deadline already had been pushed back three … The Commission has until 13 August to give its verdict on the deal. These are two of the biggest firms in the lucrative international business of making spectacles. So far, the transaction has been unconditionally cleared by the US, Russia and Colombia, and it is currently under review in Brazil, Chile, Mexico and Turkey. 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. The European Commission, the executive body of the EU, declined to comment. (Adds European Commission, GrandVision decline comment, EssilorLuxottica not immediately available) By Foo Yun Chee. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. 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. 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. 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 European Commission has initiated a … The European Commission’s competition regulator body did not give details for the move. 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. 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 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”. EssilorLuxottica is in talks to buy a stake in GrandVision as the glasses behemoth eyes control of the industry. 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 new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. She has published extensively in her fields of expertise. EssilorLuxottica set to get EU warning about Dutch deal: sources. Livy: French know-how for top-of-the-range lingerie, [Luxus+ Magazine] Death of Enzo Mari, precursor of Italian design. 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. EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. 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. 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. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) The European Commission, the European Union’s top antitrust body, in March 2018 unconditionally cleared the merger that created EssilorLuxottica. 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. BRUSSELS, June 4 (Reuters) - EU regulators are set to warn The big known-unknown is the response of the European Commission and, in particular, antitrust commissioner Margrethe Vestager. Luxury, ally or enemy of a more responsible society? On European Politics, Economy, Foreign affairs, Business & Technology -.! 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