EssilorLuxottica buys Japan’s Washin to expand its retail presence

By Thomson Reuters Apr 9, 2024 | 3:39 AM

MILAN (Reuters) – Eyewear maker EssilorLuxottica said on Tuesday it had completed the acquisition of Washin Optical Co., a Japanese optical retail with around 70 direct stores in the country.

“When we look at Japan, we see a long runway ahead with potential for growth and expansion – this is what makes it strategic for us,” EssilorLuxottica Chairman and CEO Francesco Milleri said in a statement.

The group added that the acquisition would also serve as a platform to strengthen the group’s retail presence in Japan.

(Reporting by Elisa Anzolin, editing by Cristina Carlevaro)