June 17, 2021 — Luxottica of the EssilorLuxottica Group and Mazzucchelli announced a collaboration agreement to develop and produce a highly sustainable acetate material, which will be accessible to all market players. 

The companies have shared that the agreement allows for Luxottica’s acquisition of a minority stake of around 35% of the share capital of Mazzucchelli, allowing Luxottica to further finance the development of the project within the Mazzucchelli production plants. 

The agreement highlights Luxottica and Mazzucchelli’s enduring commitment to reduce the environmental impact of their activities in the industry while increasing the availability of high-quality, sustainable eyewear.

The transaction is financial only and does not entail any shareholder agreement to be signed for the appointment of any director designed by Luxottica in Mazzucchelli, the companies have disclosed. Orsi Mazzucchelli will continue to manage the company.

For more sustainable offerings in optical, head to EB’s recent “Green Edition” of Trendspotting.