Luxury, ally or enemy of a more responsible society? Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. EssilorLuxottica declined to comment. The big known-unknown is the response of the European Commission and, in particular, antitrust commissioner Margrethe Vestager. (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 Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com. Brussels concerned €7bn merger will hurt wholesale market for eyewear and lead to higher prices 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. According to Reuters, the deal has sparked concerns among retailers and rival lens makers, sources have told Reuters. 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. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. 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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. 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. 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. 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. 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.. 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. BRUSSELS, June 4 (Reuters) - EU regulators are set to warn 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. 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 European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice for consumers. 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. 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 European Commission declined to comment. 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. 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. The European Commission has initiated a … The group had announced to its majority shareholder HAL last July its intention to acquire 76.72% of the capital of GrandVision. Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. 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. EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. The European Commission, the executive body of the EU, declined to comment. 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 … The European Commission’s competition regulator body did not give details for the move. 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. 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. February 25, 2020. Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. 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. 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. The European Commission will send a statement of objections outlining its concerns in … Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. Retailers and rival lens makers have similarly voiced worries, sources have told Reuters. Update on the proposed acquisition of GrandVision by EssilorLuxottica. The European Union only approved the 48-billion-euro merger of Essilor and Luxottica after a long study. 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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). Read also > ESSILORLUXOTTICA RAISES THREE BILLION EUROS IN BONDS. EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. The European Commission, the executive body of the EU, declined to comment. 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. Livy: French know-how for top-of-the-range lingerie, [Luxus+ Magazine] Death of Enzo Mari, precursor of Italian design. The European Sting is Your democratic, independent and top quality political newspaper specialized in European Union News. 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's eyewear and retail brands include Oakley, Sunglass Hut and Spectacle Hut. EssilorLuxottica is in talks to buy a stake in GrandVision as the glasses behemoth eyes control of the industry. hosting providers, market and analyst service providers, database management and maintenance services). Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. EssilorLuxottica’s takeover of Vision Express-owner GrandVision will be subject to an investigation by the European Commission. The European Commission’s competition regulator body did not give details for the move. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. ISG Luxury Management Webinar: What to remember about Chantal Thomass’ presentation! It is not the first time the deal has run into difficulties. The European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice … Mergers Merger Cases. Morin Oluwole (Global Head of Luxury at Facebook): “The concept of ‘corporate citizenship’ can be a determining factor in purchasing”. 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. 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. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. 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How do I switch from corporate finance to public affairs? EssilorLuxottica set to get EU warning about Dutch deal: sources. 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. What challenges await Chloé’s new artistic director? A commission spokesperson also declined to comment. THE LATTER DRAWS THE ATTENTION OF ITS READERS TO ALL THE MAJOR PLAYERS IN THESE SECTORS WHO SHARE THEIR EXPERIENCES, VISIONS AND KNOW-HOW. [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. 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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. EU regulators are not the only ones with concerns over the transaction. 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. … 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. For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. 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, the European Union’s top antitrust body, in March 2018 unconditionally cleared the merger that created EssilorLuxottica. The Commission, which will open the full-scale probe following the end of its preliminary review on Feb. 6, and EssilorLuxottica declined to comment. EssilorLuxottica and GrandVision acknowledged the European Commission’s Phase II review in a statement. On this page you can search for all merger cases. 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. The European Commission’s competition regulator body did not give details for the move. 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. She has published extensively in her fields of expertise. Lack of awareness and access have led to a global vision crisis with severe social and economic consequences for billions of people. hosting providers, market and analyst service providers, database management and maintenance services). The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. 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. “Colette mon amour”: The documentary that traces the end of a “historical monument”. She has published extensively in her fields of expertise. 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. 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. 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. "The (European) Commission extended the deadline in agreement with the parties," the EU competition enforcer said in a statement. 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. 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 … Study: Faced with the different appellations of diamonds, how do consumers find their way around? EU regulators are not the only ones with concerns over the transaction. 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. 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. Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. The European Commission will send a statement of objections outlining its concerns in the coming days, the people said, … These are two of the biggest firms in the lucrative international business of making spectacles. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. [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”. 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 … For currently open merger cases follow this link open merger cases. 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. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. 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 parties are confident that Phase II will be completed in a timely manner and … For latest updates of cases follow this link updates of cases. EssilorLuxottica, which owns the Oakley and Persol brands and Varilux lenses, was formed last year from the merger of French lens maker Essilor and … The deadline already had been pushed back three … The Company designs, manufactures and markets a … The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. 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. The Commission is concerned that the merger may reduce competition for the wholesale supply of … (Adds European Commission, GrandVision decline comment, EssilorLuxottica not immediately available) By Foo Yun Chee. The European Union only approved the 48-billion-euro merger of Essilor and Luxottica after a long study. 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. Get notified about exclusive offers every week! This winter’s big accessory trend and must-have: fashion is rehabilitating the glove! 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. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) 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 eyewear and … EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses.