Milan and Castiglione Olona (Italy), June 11, 2021 – Luxottica and Mazzucchelli announce a collaboration agreement to develop and produce a highly sustainable type of acetate, accessible to all market players.
The agreement provides for the acquisition by Luxottica of a minority stake of around 35% of the share capital of Mazzucchelli, in order to further finance the development of the project inside the Mazzucchelli production plants.
The transaction confirms and strengthens the long-standing commitment of Luxottica, which is part of the EssilorLuxottica Group, and Mazzucchelli to reduce the environmental impact of their activities in the long term along the value chain, increasing the offer of high quality and sustainable eyewear.
The rationale for the transaction is financial only and does not entail any shareholder agreement to be signed for the appointment of any director designed by Luxottica in Mazzucchelli. The founder’s family Orsi Mazzucchelli will continue to manage the company.
About Luxottica Group
Luxottica is a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear. Its portfolio includes proprietary brands such as Ray-Ban, Oakley, Costa, Vogue Eyewear, Persol, Oliver Peoples and Alain Mikli, as well as licensed brands including Giorgio Armani, Burberry, Bulgari, Chanel, Coach, Dolce&Gabbana, Ferrari, Michael Kors, Prada, Ralph Lauren, Tiffany & Co., Valentino and Versace. The Group’s global wholesale distribution network covers more than 150 countries and is complemented by an extensive retail network of approximately 9,000 stores, with LensCrafters and Pearle Vision in North America, OPSM, LensCrafters and Spectacle Hut in Asia-Pacific, GMO and Óticas Carol in Latin America, Salmoiraghi & Viganò in Italy and Sunglass Hut worldwide.
About Mazzucchelli 1849
Mazzucchelli 1849 is a worldwide leader in the manufacture and distribution of Cellulose Acetate products for the eyewear industry. Thanks to its technologies, nowadays it processes a wide range of polymeric materials. Mazzucchelli products are aimed at markets ranging from spectacles, sunglasses and fashion accessories, to interior decoration and design objects, where the quality and aesthetical values are greatly appreciated. The products with technical qualities are valued by safety, sports and automotive industries. Mazzucchelli has strong values based on product innovation, direct contact with the customer and strength of the brand. Constant innovation has led to improvements in the manufacturing process, promoting the handcrafted work of highly skilled workers and turning Mazzucchelli 1849 into a prestigious representative of Made in Italy and a key leader for the whole optical market.
For more information, visit mazzucchelli1849.it