Column: Could glasses possibly get more expensive? Yup. A pending deal makes it likely [Los Angeles Times (CA)]
Ralph Lauren Corporation (RL)
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Source: Los Angeles Times
Incredibly, the company that has near-monopoly control over the eyewear industry may be about to get bigger, this time swallowing the business that owns the For Eyes glasses chain with stores throughout Southern California. EssilorLuxottica, the world’s largest maker of frames and lenses, owner of LensCrafters and Pearle Vision, is making a play for GrandVision, which has retail outlets nationwide and an even stronger presence in Europe. The move, first reported by Bloomberg , was confirmed in a statement from HAL Holding, the investment firm that holds a majority share of Netherlands-based GrandVision. “No agreement has yet been reached and no assurance can be provided that these discussions will lead to such an agreement,” HAL said. If the deal goes through, it would strengthen EssilorLuxottica’s ability to charge markups of as much as 1,000% for frames and lenses -- market power that comes from controlling all aspects of production, owning the country’s largest chain of glasses sto
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