EssilorLuxottica Acquires Japanese Retailer Washin Optical
EssilorLuxottica has completed the acquisition of Washin Optical Co., Ltd., expanding its retail presence in Japan. The deal adds approximately 70 optical stores to the company's existing network.
Charenton-le-Pont, France – EssilorLuxottica announced the closure of its acquisition of Washin Optical Co., Ltd., a Japanese optical retail player. This strategic move strengthens the company's direct retail footprint in Japan, where it already operates around 70 stores under brands like Ray-Ban and Oakley.
Washin Optical, founded in 1951, operates approximately 70 stores, primarily located in the Kanto region, with flagship locations in prominent Tokyo districts such as Ginza and Shinjuku. The company is recognized for its commitment to quality and customer service, aligning with EssilorLuxottica's values.
The acquisition is part of EssilorLuxottica's broader strategy to grow its retail operations in Japan and enhance the appreciation for quality eyewear and vision care solutions. This follows previous investments in the country, including the acquisition of Fukui Megane, focusing on high-craftsmanship "Made in Japan" eyewear production.
EssilorLuxottica has a long-standing presence in Japan, having established its first commercial subsidiaries in the late 1980s and engaging in a joint venture with Nikon Corporation for lens wholesale since 2000. The Washin acquisition is expected to provide deeper insights into the Japanese eyewear retail market dynamics and serve as a platform for further growth.