Italian eyewear giant Luxottica
said Monday that it has signed an agreement with the current
shareholders of Óticas Carol to buy 100% of one of Brazil's
largest optical franchisors.
Established in 1997, Óticas Carol sells a broad range of
prescription frames and sunglasses at around 950 locations, with
annual system sales of approximately Euro 200 million.
"Brazil is a great country, one we have believed in and
operated in for 25 years," Leonardo Del Vecchio, Executive
Chairman of Luxottica Group, said in a company statement.
"With this transaction, we take one step further in
completing our vertically integrated business model, which has
shown many benefits for all our consumers".
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