EssilorLuxottica acquires Washin Optical to expand retail footprint in Japan
In a significant move to bolster its optical retail presence in Japan, EssilorLuxottica, a global leader in the eyewear and eyecare sector, has finalized the acquisition of Washin Optical Co., Ltd. This purchase marks a pivotal step in EssilorLuxottica’s strategy to enhance the vision care landscape in Japan, emphasizing the company’s commitment to promoting high-quality eyewear and eyecare solutions among Japanese consumers.
The acquisition of Washin Optical, a renowned player in the Japanese optical retail market with approximately 70 direct stores, reflects EssilorLuxottica’s dedication to growing its retail operations in the country. This move not only aims to elevate customer service levels but also to foster greater appreciation for quality eyewear and eyecare solutions across Japan.
Washin Optical’s rich heritage, dating back to its founding in 1951 by Mr. Toru Negishi, and its strong presence in key commercial districts such as Ginza and Shinjuku in Tokyo, complements EssilorLuxottica’s existing retail footprint. The company already operates around 70 retail locations under prestigious banners like Ray-Ban, Oakley, and Oliver Peoples, alongside partnerships with department stores and independent eyecare professionals.
EssilorLuxottica strengthens its optical retail presence in Japan with the strategic acquisition of Washin Optical
This transaction aligns with EssilorLuxottica’s investment in ‘Made in Japan’ manufacturing, notably through the acquisition of Fukui Megane. Located in the historic Fukui eyewear district, Fukui Megane is celebrated for its craftsmanship, design, and use of fine materials, epitomizing the excellence of Japanese eyewear tradition.
The acquisition of Washin serves as a springboard for further investments in Japan, offering EssilorLuxottica greater insights into the dynamics of the Japanese eyewear retail industry and opportunities for future development.
EssilorLuxottica’s roots in Japan trace back to the opening of commercial subsidiaries by Essilor and Luxottica between 1986 and 1990. The establishment of a successful joint venture with Nikon Corporation in 2000 for Nikon-Essilor further solidified the company’s presence in the region, underscoring its long-term commitment to serving the Japanese optical community.
Francesco Milleri, Chairman and CEO of EssilorLuxottica, expressed optimism about the strategic importance of Japan for the company’s growth and expansion. He highlighted the shared values and commitment to quality between EssilorLuxottica and Washin, asserting that this investment reinforces the company’s dedication to bridging Japanese culture with a global perspective.
Through this strategic acquisition, EssilorLuxottica is set to enrich its portfolio and retail presence in Japan, enhancing access to high-quality vision care and eyewear solutions for Japanese consumers, and promoting the appreciation of ‘Made in Japan’ products globally.