Oakley bought out by Luxxotica

hucksplat

hucksplat

Member
This may be old news to some of you, but Oakley shareholders formally approved a takeover by Luxxotica for $23.90 a share for a total market cap of $2.1 billion. Jim Jannard, founder, held 60% of the shares and submitted his consent to the deal. What does this mean for skiing? Probably very little, but expect change over the next three years.
 
whats luxxotica and what do they make and also 2.1 billion dosnt seem that much to sell a company that big and successful
 
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They do have revenues of nearly $1billlion per year, but their income (revenues minus costs) is only $45 million per year. Plus, it went down from $60 million the year before so you could say that the company isn't growing (which is bad). Before LUX bought them, Oakley was worth $1.7 billion, so by selling the company for $2.1, they get a pretty sweet premium of about $400 million.
 
Oakley will maintain they're brand identity and products. They are simply a subsidiary which means they company is owned by Luxottica, but operates under it's own business plan.

It's a good move that will just give Oakley further financial backing and resources.
 
a bit like line and k2 then?

i personally am indifferent as i think oakley is currently monopolising the minds of young newschoolers all over the world, so if oakley's influence wanes a little (i'm sure it won't), i think it would be for the best. VIVE LE CHOIX!

 
This is old news, but in the first quater of them owning oakley, sales increased by $8.1million when compared with last year...
 
The merger has not been completed yet, and was JUST approved by shareholders as of recently. It will likely be finalized in Mid-November.

And yes, it will be similar in idea with how Line operates as it's own company, yet is owned by K2 Sports Inc.
 
anyone heard of people getting flowed by oakley in the first place? they dont really do that shit, and if they did it would be retarded.
 
Oh I see. Those shareholders can be a pain in the a$$. Sweet though, I hear that Oakley wont change one bit. Now they will just have a little more money backing them.
 
Oh really?

Not doubting, just in this financial sports thing we have over here it stated what i said so i assumed it to be true... I could be wrog though but it should be a legit source
 
Jim Jannard, Oakley's chairman and founder, said, "Oakley will continue

to be Oakley but with much greater resources and a platform for

realizing the true potential of our brand and company."
 
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