EssilorLuxottica buys Japan’s Washin to boost retail business

(Source: Reuters/Benoit Tessier)

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, of Reuters

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