Luxottica Group, with Alain Miklitarian and NEO Capital, the London based investment firm that holds a 47 per cent share of Alain Mikli International, today jointly announced that they have entered into an exclusivity agreement pursuant to which Luxottica will acquire 100 per cent of the company.
As a result, Luxottica would significantly strengthen its luxury brand portfolio thanks to Alain Mikli’s distinctive design. Created in 1978 in Paris, Alain Mikli has always been a synonym of innovative design. With its sophisticated and subtly off-beat style it is one of the most recognizable brands in the eyewear market. In 2011, Alain Mikli posted net sales of approximately 60 million Euros.
“This proposed operation perfectly reflects our long-term growth strategy”, commented Andrea Guerra, CEO of Luxottica, who recently indicated an interest in the purchase of the Salmoraghi & Vigano Italian chain. “With its remarkable design, Alain Mikli would enrich our luxury eyewear segment… where we have deeply invested in the past years. Moreover, Luxottica’s vertically integrated business model and deep know-how of luxury eyewear distribution would allow Alain Mikli to increase its selected global presence”.
“I’m very excited about this new adventure”, commented Alain Mikli. “I have worked for 35 years pursuing the same idea and the same dream: to please our clients. Working with Luxottica will represent a great new opportunity to push the Alain Mikli brand to the next level in distribution, quality and service. Now I can share my passion with many customers around the world”.
The anticipated acquisition remains subject to discussion and the completion of the consultation process with the work council of Alain Mikli.