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Friday / July 12.
HomeminewsEssilorLuxottica Acquires Balance of Shamir

EssilorLuxottica Acquires Balance of Shamir

Shamir is now fully owned by EssilorLuxottica.
Essilor acquired half of Shamir’s capital in 2011. Having merged with Luxottica, the global eyewear company has acquired the remaining 50% of the company from Kibbutz Shamir, effective August 1.

Yagen Moshe will remain Shamir’s CEO, reporting directly to Francesco Milleri, CEO of EssilorLuxottica, and Raanan Naftalovich will continue to lead Shamir’s North American business unit. Shamir’s brands, innovations and products will remain available to all its clients and will retain their separate identity, and Shamir will continue to serve the market and its customers independently.

Shamir’s brands, innovations and products will remain available to all its clients and will retain their separate identity

“Shamir has a very identifiable company culture with a strong family feel and a personal touch that our clients have felt for decades ¬– our approach will remain the same,” said Mr Moshe. “With Shamir’s ongoing commitment to R&D and innovation, we will continue to make our brands and products available to our clients, building on the trust and equity we have in the market.”

Shamir, which is one of Israel’s wealthiest kibbutzim, operates in 23 countries, with 19 manufacturing labs across the world, and has over 2,500 employees.

Luxottica is also entering Israel’s retail sector after signing a franchise agreement with Harel Wizel’s Fox-Wizel retail chain to open Sunglasses Hut stores in Israel.