Luxottica acquires sunglass chain in Israel
Milan -- Luxottica Group announced that it has entered into an agreement to acquire Erroca, which operates more than 60 sunglass stores in Israel. Over time, the stores will be rebranded under the Sunglass Hut brand.
The deal marks Luxottica's entry into the Israeli sunglass specialty store market, although the company already has a solid presence in the country through its wholesale division.
"This acquisition is strategically important to Luxottica, as it allows us to establish a meaningful retail presence in Israel, a very dynamic and fast-growing market," said Fabio d'Angelantonio, Luxottica Group's executive VP, sun & luxury retail.