Based on current prices, this stake is valued at around $184 million. The Japanese group is a specialist in optical equipment. Historically, most of its business has depended on the photographic sector, but this division now accounts for no more than 35% of revenues. The remainder comes from medical imaging, semiconductors and industry, notably metrology.
EssilorLuxottica and Nikon have had a joint venture in optical R&D since 2000. This 50/50 joint venture has enabled the Franco-Italian company to market innovative lenses under the Nikon brand, including ultra-thin lenses, the first blue-light filters and customized lenses. Nikon has a conditional buy-out clause for EssilorLuxottica's 50% stake.
Nikon is one of the companies subject to prior notification on foreign direct investment, as it operates in sectors that are essential to Japan.
EssilorLuxottica has a plan
The Franco-Italian group has launched several development initiatives recently. Against all odds, it bought the Supreme streetwear brand from V.F. Corp for $1.5 billion. But it's above all the links with Meta that the market is keeping a close eye on, at a time when connected glasses are back in vogue. The cooperation between the two groups around Ray-Ban is particularly appealing. The acquisition of a stake in Nikon is closer to Essilor's historical business, which shows that management is keeping several irons in the fire by playing on three boards that investors particularly appreciate: health, luxury and technology.
